HUNTSVILLE, AL – Studies show ESOP Companies Provide More Security for Their Employees.
The National Center for Employee Ownership (NCEO) and the Employee-Owned S Corporations of America (ESCA) released results of a new survey which concluded that Employee Stock Ownership Plan (ESOP) employees fared better during the COVID-19 pandemic than non-ESOP employees. According to ESCA, “Survey results found that ESOP employee owners reported significantly less financial adversity, more stable jobs, better housing security, and consistent retirement savings than non-ESOP employees.”
Furthermore, ESCA reports, “In the midst of a public health emergency that triggered a massive unemployment event, non-ESOP employees reported experiencing six times the rate of job losses or downsizing of ESOP employee-owners; financial insecurity at more than three times the rate of ESOP employee-owners; inability to pay down debt at more than twice the rate of ESOP employee-owners. Despite the pandemic economic downturn, twice as many ESOP workers as employees at non-ESOP companies expect to retire by the age of 60.”
Avion Solutions is proud to be a 100% ESOP company whose employee-owners benefit from their outstanding job performances with many tangible benefits both today and in their future retirement.
To read more about the ESCA survey, please click here. To watch a brief CNBC video feature on the survey, click here.