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Every company should be owned by its employees (www.elysian.press)

submitted 3 months ago by Melvin_Ferd@lemmy.world to c/general@lemmy.world

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[–] AnarchoSnowPlow@midwest.social 70 points 3 months ago (2 children)

I work in an esop. It's pretty cool in that we own the company in shares based on tenure, it's not like a union though.

We don't vote on the CEO or the board, we have third party trustees that manage the esop account.

We aren't beholden to external shareholders, which is the absolute best part. Line doesn't go up, it really just affects our retirement accounts, but even then our valuation takes into account stuff like cash on hand and contract stability. So... We have pretty fiscally conservative management, which is a great thing for us.

[–] ChillPenguin@lemmy.world 12 points 3 months ago* (last edited 3 months ago)

I work at an ESOP as well. Honestly I'm glad I fell into this. I have a feeling that I may actually be able to retire. If not early. Probably one of my best moves in my career.