DAYTON, Ohio, Feb. 12, 2020 /PRNewswire-PRWeb/ -- O'Neil & Associates (ONEIL), an employee-owned company that develops technical publications, training, and related product support materials, today announced that it has become a member of Certified Employee-Owned (Certified EO), a new certification program for employee-owned companies.
To become a member of Certified EO, companies must pass a rigorous certification process and prove significant and broad-based employee ownership (at least 30 percent owned by an ownership plan).
"Because employee ownership is at the very heart of ONEIL, this achievement is a huge company milestone," said Hernan Olivas, president and chief executive officer for ONEIL. "Earning this certification is an opportunity to further declare the benefits of employee ownership – every employee fully invested in the quality of our products, the excellence of our service and the success of our company."
ONEIL set out to become employee-owned in 2004 offering a 1 percent ownership when former owner John Staten gave employees the opportunity to purchase his shares and acquire the business. With a vision of securing the company's future and keeping ONEIL locally owned and operated, the product support company implemented a plan to move toward a 100 percent Employee Stock Ownership Plan (ESOP). With succession planning being a common challenge for businesses, Staten saw the ESOP structure as both socially responsible and as the most effective means of transitioning ownership to all employees. With historically low interest rates, a good future outlook for the general economy and a strong business environment, it was the ideal time to transition. ONEIL became 100 percent employee owned in March 2015.
ESOP employees earn 5 to 12 percent more than their peers in non-ESOP companies, have greater retirement benefits and enjoy the security of working for a company with a higher retention rate and more stability during economic hardship. ONEIL employees enjoy working alongside other highly motivated, engaged teammates – as well as the opportunity to boost the economy and serve their neighbors with the wealth they build together. In fact, ONEIL employees gave nearly $10,000 back to the Miamisburg community in 2019 alone.
Employee ownership is perhaps the best-kept secret of our economy. It strengthens communities, fosters a financially savvy workforce, increases resiliency during recessions, and offers big benefits during economic booms. It is a sound choice economically, with several tax and financial incentives to its name. It also empowers employees to think and act like owners, which results in an engaged workforce, happy customers and sustainable financial success that in turn benefits the community.
"I've worked in a variety of business structures throughout my career, and there's something empowering about working as an employee-owner," says Mike Ellis, technology business manager for ONEIL. "There's more pride, more attention to detail, more engagement and more collaborative problem-solving across the board. It's an intentionally team-oriented environment that employees at every level can support with their own unique skills and abilities – and I'm proud to be part of it."
To learn more about Certified EO, visit http://www.certifiedeo.com.
About O'Neil & Associates, Inc.
O'Neil & Associates, Inc. (ONEIL) is an employee-owned company that develops technical publications, training and related materials for manufacturers to help them show their customers how to operate, maintain and repair their products. In addition to providing services for developing these materials, ONEIL offers related technology solutions for creating, managing and delivering their client's technical information. ONEIL serves clients in the commercial, aerospace and government markets with offerings like Interactive Electronic Technical Manuals (IETMs), Web-Based Environments, Intrusive Diagnostic Systems, e-Learning, training, Content Management Systems and traditional paper manuals.
For more information about ONEIL products and services, visit http://www.oneil.com.
SOURCE O'Neil & Associates
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