Good employees can be difficult to keep around. Never has this been more true than in the Great Resignation. So how do you stay competitive as a workplace? We all know that, in the short-term, you can increase paychecks, bump up benefits, etc. But the smartest workers are looking long-term. They want to invest in their own futures and participate in the success of the business. The advantage, obviously, is that an employee with an ownership interest has an incentive to work harder and better. How do you know if employee ownership is an advantage for your brewery?
In this introduction to employee stock ownership, we will address the following:
- Why should I share profits or ownership with my employees at all?
- What is an ESOP? Why is it worth my time?
- Are there any disadvantages?
- How do I create one and what do I do with it?
- Are there better alternatives for my brewery?