Invest in Your Future with McConnell & Associates’ Employee Stock Ownership Plan (ESOP)
McConnell & Associates is a company that believes in building legacies by giving back to our employees. Their hard work and high character have contributed to our success, and we want to repay them by offering them top-of-the-line benefits and the opportunity to build personal wealth through our employee stock ownership plan (ESOP).
What is an ESOP?
An Employee Stock Ownership Plan (ESOP) is a tax-qualified retirement plan similar to a 401(k) plan. The main difference between an ESOP and a 401(k) plan is that employees don’t have to pay or contribute a portion of their paycheck to participate in an ESOP plan. Under these plans, company shares are allocated to employees over time as a part of their benefits package.
Discover the Benefits of an ESOP
Perhaps the most noticeable benefit of an ESOP is that employees are given a financial stake in McConnell & Associates’ performance and profitability. This encourages our employees to think and act like owners and contribute to MAC’s long-standing legacy of success.
Increased Household Wealth
Research shows that the median household net worth is 92% higher for employee-owners in an ESOP company. Our ESOP is designed to help our employees build personal wealth by allowing them to be allocated shares in the company. As the company grows and builds upon its success, the stock value increases, and shares become increasingly valuable. Thus, employees benefit financially the longer they stay with the company and participate in increasing the success and value of the company.
Employee owners not only have a higher household net worth, but they are also 53% more likely to continue working for their Employee Owned company. When every employee has a vested common interest in the success of their company, collaboration and teamwork flourish. This creates a more positive, family-like work environment where employees feel valued.
Positive Employee-Management Relationships
When employees and management both have a shared stake in the financial success of their Employee-Owned company, they communicate more effectively. This creates a high-character culture where everyone is focused on growing the business to build personal wealth for each and every stakeholder.
Learn more about McConnell & Associates’ Commitment to Building Legacies.
From our beginnings as a family-owned business to a 100% Employee Owned Company, McConnell & Associates has always been committed to our employees’ success. We believe that hard work and high character should be rewarded through the opportunity to be an Employee-Owner.
If you want to create your legacy, check out McConnell Associates’ careers page and apply today!