Scottsdale, Arizona (PRWEB) March 24, 2015
Blue Global Media, LLC announced today the addition of an Employee Stock Ownership Program (ESOP), effective as of January 2015.
The concept behind ESOPs was first established in the 1970s as a new paradigm allowing companies to be more competitive in the labor market. Since then ESOPs have been adopted by organizations of all sizes as part of their employee compensation plans.
Studies have consistently determined that by offering employees partial ownership, companies are better able to attract and retain a talented workforce.
According to researchers at Washington State University, ESOP participants earned between 5% and 12% more and ultimately grossed three times as many retirement assets compared to workers in comparable non-ESOP companies.
Additionally, Rutgers University, in the most extensive study to date, found a 2.4% faster growth rate at companies that implemented such programs. Substantial findings include an increase in sales, employment retention and business longevity vs. non-ESOP companies.
“We see ESOPs as a natural continuation of our socially conscious environment”, said Chris Kay, founder and CEO of Blue Global Media. “By giving our workers a true stake in our success, we hope to encourage other small businesses to adopt this employee-centric approach.”
Aside from the established benefits in the realm of sales growth and employee retention, ESOPs also provide companies a way to reduce their tax liabilities. By selling some of their equity to employees, organizations are able to convert a percentage of their tax burden into non-taxed capital appreciation.
“The ESOP program is really a win-win for both the company and our employees”, said Kay. “By offering this exciting benefit, we’re not only able to provide a fantastic retention tool, but a true feeling of shared equity and stock in the company”.
Founded in 2006 in Scottsdale, Arizona, Blue Global Media is an online marketing company focused on generating qualified leads within the financial services industry. The company currently employs 20 people and is looking to add several new positions to its professional services sector in the near future.