Did You Know This Trick To Make Your Employees Love You More!?

Is The Beautiful Game...At Work?

Hola amigos! It's Leo Messi here stepping off the pitch and onto a different kind of playing field: the workplace. Apparently a lot of folks are feeling less connected to their jobs these days. Gallup says employee engagement is down and Glassdoor reports that confidence in companies is lower than my chances of missing a penalty kick (okay maybe not *that* low but still!). Pete Stavros from KKR is scratching his head wondering why CEOs are clueless about their employees' feelings. It's like asking my teammates if they enjoy playing with me – you should already know the answer! But seriously Pete discovered that employee stock ownership plans (ESOPs) might be the secret sauce to turning things around. It's like giving everyone a piece of the trophy…or in this case the company!

Everyone Gets A Trophy? Maybe!

So what's an ESOP? It's basically giving employees not just the big bosses a slice of the company pie as part of their retirement plan. Stavros and others believe it can fix a bunch of problems: keeping workers happy and engaged reducing turnover and even tackling wealth inequality. It's like scoring a goal that benefits the whole team not just me (though let's be honest those are the best kind). KKR tried this out with a company called CHI Overhead Doors. They gave the workers stock and when the company was sold those employees walked away with a cool $360 million! That's enough to buy a lifetime supply of…well whatever you want! But despite these success stories ESOPs haven't exactly taken the world by storm. Apparently there are some complicated rules and taxes involved. Typical right? Even something good has to have some bureaucracy.

Pass The Ball! Let's Lobby!

Stavros is pushing for changes to the laws governing ESOPs because according to him we need the government's help to truly transform how companies operate. It's like needing a good referee to make sure everyone plays fair even though sometimes I think I'm the only one who understands the rules (kidding...mostly!). Wayne Berson the CEO of BDO USA was looking at different ways to restructure his firm. And when he found out that companies with ESOPs had much lower staff turnover rates he was sold! Since making the switch BDO has seen improvements in employee retention and engagement. It's like finding the perfect formation that leads to more goals!

Game Changer: Personal Stories

Kevin Sims a technician at Web Industries said that getting to own a piece of the company changed his life. He felt like he had a voice and that his contributions mattered. It's like how I feel when the coach listens to my suggestions about the team's strategy (which is always a good idea by the way!). Sims cares about the company’s performance; one time his team produced supplies that were used in outer space!. He and his coworkers give tips to management on how to save money by being less wasteful – they’re like “this is our company we’ll protect it!”

The Art Of Implementation

Mary Josephs an ESOP advisor warns that simply implementing an ESOP isn't a guaranteed win. You need a good company culture to go with it. It's like having a team full of talented players but needing a coach to bring them together. Stavros emphasizes the importance of building trust by sharing information and giving employees a voice. He even suggests giving each plant a million dollars a year to invest in workplace improvements! That's like giving each player a bonus to buy better boots…or maybe a personal chef.

Capitalism: A Messi Perspective

Stavros also suggests profit sharing and equity grants which can boost retention and create more buy in. But he isn't a fan of employee share purchase plans because he finds that it's like trading wages or benefits rather than treating people like business partners. He also points out that conventional wisdom says that the only people who need ownership are CEOs and C suite people. But the best way to organize an economy according to every economist is capitalism but “the problem…is the unequal sharing of the blessings.” So there you have it! ESOPs might not be the answer for every company but they offer some valuable lessons about trust communication and giving everyone a stake in the game. Who knows maybe one day even I'll own a piece of Inter Miami! Just kidding…unless? ¡Adiós amigos!