ENGAGING NEW EMPLOYEES WITH ESOP CULTURE

Transcription

1 ENGAGING NEW EMPLOYEES WITH ESOP CULTURE PRESENTED BY: ANGELIKA FARON, HARPOON BREWERY AMY HUOT, KAPCO GLOBAL CONNIE WOODMANSEE, SWERDLIN & COMPANY NEW ENGLAND 2016 FALL CONFERENCE

2 Annual participant statements Summary Plan Description (SPD) Required Communication Summary Annual Report on the activity in the plan Additional disclosure requirements for public companies PPA requirement regarding diversification

3 What should we share? As an Employee-Owner, I Support mission of company to benefit all Contribute to financial success Keep informed about strategic direction and financial health of business Participate in open discussion of issues Help achieve strategic direction Help find solutions for improvement Support a positive work environment Protect legacy of company for future employee owners

4 The ESOP & You

5 Harpoon History Harpoon was started in 1986 by Dan Kenary, Rich Doyle, and George Ligeti. They were three friends who loved beer and loved drinking beer together but found the beer choices at the time to be limited. Traveling through Europe and experiencing the rich traditions of European brewing and beer drinking enhanced their love of beer and opened their eyes to the rich beer culture they wanted back home. They decided to build a brewery so that they could brew the beers that they wanted to drink, and invite their friends to the brewery to drink it with them. In June of 1987 a warehouse space on the Boston waterfront was transformed into a brewery and the first Harpoon Ale was brewed. Fresh, local craft beer began making its way out to Boston beer drinkers. It was hard to imagine that craft brewing would become what it has today. Though many things have changed since the early days of Harpoon, much has stayed the same. We still love brewing beer and enjoying it with friends. One thing that has changed: in August 2014 Harpoon became an employee owned company!

6 ESOP Communications Committee We put everything out to the employees and have them choose what to learn. ESOP Comm. Comm. Employee Owner SWAG Etched glasses First Fridays Owners Club EHOP Signage Monthly newsletter Certificate Distribution education & celebration

7 Formal Training Six Pack Training Training that every employee owner of Harpoon will go through. Includes cross training with other departments than their own includes extensive ESOP communication. First Fridays Further education voluntary attendance first Friday of each month we discussed different topics relating to the ESOP. Trainings during statement distribution. Provides a refresher for more veteran staff as well as training to new employees about the ins and outs of the system.

8 Culture Owners Clubs Monthly events Everyone is invited Organized by a different department each month Statement distribution Once a year Everyone is invited Statements arrive in the mail not distributed at event ESOP Committee organizes event Harpoon Festivals Three a year Not specific to ESOP Displays Everyone working together to make a singular goal happen

9 Culture

10 Challenges Effectively communicating to part-time staff that may not be eligible for the ESOP Ensuring we are inclusive not exclusive Making sure communication and events are inclusive based on the employee and company not the ESOP Communication must be clear, concise, and not focus too heavily on who is and who is not an owner Timing effectively working with our staff to make sure that all events and trainings are available to most if not all Providing the tools for part time staff to communicate to the public what the ESOP means for Harpoon Our reality is that our visitor center is mostly made of part-time staff

11 Inclusivity and communication Ideas Program Sources ideas from every department. Idea owner gets a shout out on our Ideas wall. Both eligible and no eligible ESOP employees represented Inclusivity surrounding ESOP events Everyone is invited when we can we make sure to schedule events where part time staff can attend Emphasis on vesting your time here if you do become eligible is negligible Promotes a culture that bridges the gap Working together Events such as festivals promote the idea that we are one company not a segmented one by ESOP eligibility.

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13 ESOP FLIGHT STATUS: NOW ONBOARDING

14 Who is Kapco Global? Global Stocker/Distributor of Commercial Aircraft Parts ESOP Since % Employee Owned (US & International ESOP Plans) / S Corp Headquartered in CA with offices in CT, FL, MN, Europe & Asia Former AACE Winner for Flight School Printed Materials

15 Where to Begin? An emphasis on ownership culture. Research on adult education recognizes that people are more likely to retain information when it becomes important to them. ESOP account rules and mechanics are not immediately relevant to employees' jobs and are too technical to expect new employees to absorb while they are learning their jobs and company procedures. Because of this, we believe that integrating a new employee into the company's culture and teaching them what behaviors are expected of them should take priority in the first months. The combined impact of ESOP ownership and an ownership culture on a company s performance is enormous, and the integration of new hires is critical to sustaining that advantage. New employees are usually eager to figure out the company s culture and how they fit in, making the new hire period one of the best opportunities to shape an employee s appreciation of the culture and the behaviors that will make them and the company successful. Reference: Vanderslice, G., & Lu, L. (2014). Chapter 4: Onboarding New Employees. In The ESOP Communications Sourcebook (Sixth ed., pp ). National Center for Employee Ownership (NCEO). Retrieved from

16 What to Include? What is an ESOP and how does is help to build wealth for retirement? What is a Culture of Ownership and how does it benefit employees and the company? What are the competitive and economic benefits of employee ownership? How does employee ownership influence the employee experience? What are the basic privileges and responsibilities of employee ownership? What additional ESOP related resources are available to employee owners?

17 How to Deliver It? Challenge: Introducing Ownership Culture to Remote Teams

18 Our Onboarding Takeaways... Incorporate Your Brand/Industry Emphasize Culture Save the Technical Stuff for Later Tell Stories Embrace Technology

19 Our Onboarding Takeaways...

20 Our Onboarding Takeaways...

21 QUESTIONS??? Angelika Faron Sales Administrator Harpoon Brewery Amy Huot Manager, Product Managment Kapco Global Connie Woodmansee Manager, ESOP Services Swerdlin & Company