Washington, DC, May 23, 2019 - Jeff Mounts, Marketing Coordinator at ESP International based in Cedar Rapids, has been named the 2019 Employee Owner of the Year by The ESOP Association. This award recognizes a non-management employee owner who provides a positive influence in the company, and who participates in the company’s employee ownership activities and in the activities of The ESOP Association.
ESP International has an employee stock ownership plan (ESOP) and, like many companies with ESOPs, has created a committee to help educate employee owners on the benefits and responsibilities of being employee owners of the business.
As co-chair of ESP’s grass roots Ownership Committee, Mounts led the creation of the committee’s strategic plan and challenged the team to create innovative ideas to educate and engage employee-owners. Mounts played a significant role in hosting a member of Congress at ESP International, and his expertise, passion, and service led him to be chosen internally as his company’s Employee Owner of the Year.
He is an active member of the Cedar Rapids community and actively participates in ESP’s Charitable Foundation. In 2018 he helped raise more than $20,000 for charity. Each year, ESP employees vote for the charity they would like to see the Foundation sponsor. Throughout the year they host fundraisers and donate a majority of the proceeds to that charity; the remaining funds are used to support other local non-profits.
ESOPs are a retirement plan that provides employees with a chance to share in the profits they help create. Unlike 401(k)s, ESOPs typically have no out of pocket expense for employees. ESOP companies often excel at creating engaging workplace cultures, and are far less likely to lay off their employees, according to national research. These plans can provide tax benefits for the business and the owners who sell their shares to an ESOP.
About the Award
The Employee Owner of the Year Award recognizes a non-management employee owner who provides a positive influence in the company, and who participates in the company’s employee ownership activities and in the activities of The ESOP Association.
About The ESOP Association
Formed in 1979, The ESOP Association is the leading national trade association representing companies with Employee Stock Ownership Plans (ESOPs) and the professionals who provide services to them, such as attorneys, accountants, financial advisors, and professional fiduciaries/trustees.