Kansas City, MO (PRWEB) September 26, 2013
For the ninth year in a row, HNTB Corporation has been ranked among the largest majority employee-owned companies in the United States.
The annual ranking is compiled by the National Center for Employee Ownership, a national nonprofit information and membership organization designed to promote employee leadership.
HNTB’s employee stock ownership plan was established in 2000. The total value of employee accounts has grown from $13 million in the first year to $459 million at the end of June 2013. The average HNTB participating employee has an account balance of $150,342, a big increase from the first year’s average account balance of $8,796.
HNTB’s program, as a whole, has a compound annual growth rate of 21 percent.
“Employee ownership serves as a tremendous source of pride – and performance – for our firm,” said Rob Slimp, CEO of HNTB Infrastructure. “When employees have a stake in the company’s future, they are more engaged and productive. That shows in our day-to-day quality contributions to the most complex infrastructure projects throughout the United States.”
Rankings are based on the number of employees. To be included on the list, companies must have a majority of their shares owned by an employee stock ownership plan or similar program.
There are currently about 10,900 companies with ESOPs or other broad-based employee ownership plans in the U.S., an estimated 40 percent of which own a majority of their companies stock. ESOP companies employ 10.3 million people and have just under $900 billion in assets. In addition, a much smaller number of companies have other kinds of arrangements, such as profit sharing trusts invested primarily in company stock or stock purchase plans in which most or all employees participate, where employees broadly own most of the company’s shares.
The NCEO is a nonprofit organization, established in 1981, whose mission is to provide the most objective and reliable information possible on employee ownership at the most affordable price possible. Members include companies, professional practitioners, unions, government officials, academics, and other interested individuals. The full Employee Ownership 100 list can be found on http://www.nceo.org.
HNTB Corporation is an employee-owned infrastructure solutions firm serving public and private owners and construction contractors. With nearly a century of service, HNTB understands the life cycle of infrastructure and addresses clients’ most complex technical, financial and operational challenges. Professionals nationwide deliver a full range of infrastructure-related services, including award-winning planning, design, program delivery and construction management. For more information, visit http://www.hntb.com.