It’s no secret that Americans disagree about many things. Whether politics or the best NFL team, it’s often difficult to find common ground.
However, research from Rutgers University shows that Employee Ownership is one of few things upon which most Americans agree—regardless of political affiliation, ideology or votes in the 2016 presidential election.
Respondents in the 2019 study overwhelmingly voiced their preference for employee-owned companies. When asked to choose between a company owned by employees, a company owned by investors and a company owned by the state, the results were as follows:
- Political party: 72% of republicans, 74% of democrats, and 67% of independents chose the company owned by employees
- Ideological views: 69% of conservative, 72% of liberal, and 73% of moderate respondents opted for employee ownership
- Vote in 2016 election: 77% of Trump voters and of 76% Clinton voters preferred the employee-owned company
A national consensus is especially rare in our current political climate. However, when it comes to Employee Stock Ownership Plans (ESOPs), it’s not surprising that employee ownership is so strongly favored. ESOPs are a unique form of employee ownership that, when implemented properly, deliver significant financial and nonfinancial rewards to both the owner and employees of a closely held business.
Boulay’s ESOP Advisory team offers guidance in all stages of the ESOP process, from feasibility studies and plan design to third-party administration, repurchase obligation and sustainability studies.
To learn more about ESOPs and whether this form of employee ownership is right for you and your company, connect with our ESOP leader, Dan Markowitz, today.
[1] These charts were made possible through a contract between the Employee Ownership Foundation and the National Opinion Research Center at the University of Chicago for questions on the General Social Survey. Analysis of the data was done on a volunteer basis by Professor Joseph Blasi and Professor Douglas Kruse of the Institute for the Study of Employee Ownership and Profit Sharing, Rutgers University School of Management and Labor Relations, 2019. Note: The Rutgers/Kellogg Foundation study is available at: https://smlr.rutgers.edu/faculty-research-engagement/institute-study-employee-ownership-and-profit-sharing/rutgers-kellogg