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Reducing High Turnover in Trucking with ESOPs

Posted by Marc S. Schechter | Oct 13, 2021 | 0 Comments

Employee turnover is one of the most challenging issues facing many industries in the U.S. With so much spent on hiring, training, on-boarding, and getting workers up to speed, a short turnover period may cost the company more than the worker added. Many employers are struggling to address the issue, especially in times where the unemployment rate remains so low.  The trucking industry has been dealing with high turnover rates for years. Some trucking and transportation companies are learning from other employee-owned businesses and have seen results in transitioning the company to an employee-ownership model, including Employee Stock Ownership Plans (ESOPs). ESOPs often have much higher retention rates, in addition to the other benefits of giving workers a financial interest in their future with the company.  

Founding Partner Marc Schechter to Speak on The Decade of the ESOP: Economic Recovery, Racial Justice and Equity at National Center for Employee Ownership (NCEO) Fall ESOP Forum

Posted by Marc S. Schechter | Sep 14, 2021 | 0 Comments

Join Founding Partner, Marc Schechter, on September 22, 2022, at the National Center for Employee Ownership (NCEO) Fall ESOP Forum, as he shares his insight on The Decade of the ESOP: Economic Recovery, Racial Justice and Equity. The NCEO Fall ESOP Forum provides information, ideas, and advice yo...

American Craft Beer Week, May 13–19: Untapped ESOPs - Blood, Sweat & Beer: Why ESOPs & Breweries Go Hand-in-Hand

Posted by Marc S. Schechter | May 13, 2019 | 0 Comments

Brewery culture seems made for Employee Stock Ownership Plans (ESOPs). Breweries seek collaborators and innovators, and typically people want to work there long term and be part of the creation team for new brews. Without an ESOP, retirement can be difficult for workers, and could even close the brewery or change its structure altogether, depending on how the owners plan to retire. As many craft breweries are in the stages of their youth, their owners and founders may not yet have thought of a succession plan for their business, or developed contingencies to be employed in the event of a financial downturn.

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