In San Antonio, Alterman has clearly made its imprint in the career space, once again being honored by its own employees as one of San Antonio Business Journal’s “Best Places to Work” for the region.
Here at ESCA, we aren’t too surprised with the news. We know that as employee-owners, each Alterman employee is highly motivated and enthusiastic when coming to work every day, based on the S ESOP business structure they have embraced. In fact, they have placed in the top 10 for this award every year since 2008.
Alterman, Inc. is one of San Antonio’s oldest and largest electrical and voice / data communications contractors. It has been an employee-owned company since 1984, attracting outstanding managers, supervisors, electricians, technicians and support personnel able to excel on projects of all sizes and complexity.
S ESOP companies like Alterman, according to a University of Pennsylvania study, create not only employee motivation and success, but also $14 billion in new savings for S ESOP workers that they otherwise would not have. This is because company profits flow into the ESOP (retirement) accounts of the workers. Moreover, most S ESOP employees have retirement account balances three to five times higher than the average 401(k) or other defined contribution plans, as compared with most working Americans who, according to an April 2011 Gallup poll, think they will lack enough money to live comfortably in retirement.
The Promotion & Expansion of Private Employee Ownership Act (H.R. 1244/S. 1512) would encourage and support the formation of S corporation ESOPs. Lamar Smith (R-TX-21st) represents the district where S ESOP Alterman is located. We encourage Congressman Smith to look into cosponsoring this important legislation to create more “best places to work” within the district he represents.
ESCA applauds Alterman for having an excellent reputation as an employer in their community.