The GH ESOP Chronicles

GH ESOP: LEVELING UP

In 2017 Garrison Hughes (GH) adopted an Employee Stock Ownership Plan (ESOP) to provide employees a company-funded retirement plan with tax-deferred investments. The ESOP is a game-changer. Why? Because in addition to the 401(k) program where the contributions are funded by the company and provide employees opportunities for profit sharing as the value of GH grows, an ESOP affords employees more power—it puts the wireless controller in our collective hands. And with that power comes the responsibility to help grow and improve the company. How can employees help to do this? By sharing ideas! All ideas are welcomed and encouraged. Below are a few examples:

• Sharing thoughts about pursuing and winning new business
• Making suggestions about a more timely approach to completing timesheets
• Brainstorming proactive ideas for clients and ways to add value to client relationships

Fortunately, GH has creative people with a slew of great ideas that have contributed to the growth and value of the company since 2017. And, we all have a part to play in our continued success.

WE’RE ALL PLAYER ONE: EMPLOYEE OWNERSHIP MONTH

Did you know that October is Employee Ownership Month (EOM)? In 1978 The ESOP Association was founded to provide an advocacy department dedicated to protecting tax laws that influence Employee Ownership so Game On! The ESOP Association celebrates EOM by providing resources to learn more and get involved in your local ESOP community. These resources can be found on the ESOP Association website. Additionally, if you would like to know more about an ESOP in general, check-out this ESOP Brief by The ESOP Association.

CHOOSE YOUR CHARACTER

Each year, Garrison Hughes has a group of employees who volunteer to be a part of the ESOP committee. The ESOP committee finds creative ways to promote and educate fellow GHers about the program. They’re never too busy to press pause to help answer questions. Committee members can be contacted at esop@garrisonhughes.com.

A microsite was created to provide answers to common questions about the ESOP. Committee members can be reached at esop@garrisonhughes.com.

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