As many of you may know, in 2010 IDR officially became an employee-owned company by implementing an ESOP, which is an Employee Stock Ownership Plan. For our employees this means they all have an opportunity to hold a piece of our company in shares of stock that they can accrue each year and will go towards their retirement. The stock value is based on the value and profitability of the company, so the employees can directly impact the value of their shares by helping to increase the amount of profit brought in or by finding ways to reduce expenses. This helps to create a win/win for both the company and the employees.
With IDR as an ESOP, our employees all have an actual stake in the company. We feel this is the best way to keep our employees playing for something more, and rewarding them directly when the company thrives.
While the entire process of an ESOP can be confusing, we have found ways to educate them about what it means to be an ESOP and what actually goes into running our company. As our employees become more educated about it, they have grown to love it. We believe our employees contribute greatly to our overall success and we want to reward them significantly for that.
On Wednesday we will be sharing what ESOP means to our employees!