ESCA Board Member HNTB has been named a Top 100 Majority Employee-Owned U.S. Company for the ninth year in a row. The rankings are compiled by the National Center for Employee Ownership, which ranks companies by employees and requires that a majority of company shares be held by employees through an employee stock ownership plan or similar program.
HNTB has been in business for nearly 100 years and established its ESOP in 2000. Employees can participate in the HNTB Ownership Plan immediately following receipt of their first paycheck, which allows them to become owners of HNTB. Employees enrolled in the ESOP truly have skin in the game because as they contribute to the firm’s success, they also contribute to their own success and future retirement. According to HNTB’s website, “It’s estimated that 70 percent of the factors that contribute to the value of HNTB stock are influenced by HNTB and its employees. So, each person’s work has a cumulative effect on HNTB’s performance and share value.”According to Rob Slimp, HNTB Infrastructure CEO, “Employee ownership serves as a tremendous source of pride – and performance – for our firm… When employees have a stake in the company’s future, they are more engaged and productive. That shows in our day-to-day quality contributions to the most complex infrastructure projects throughout the United States.”
HNTB’s continued success is an example of the value, both economic and personal, of employee ownership. A recent study published by Alex Brill, CEO of Matrix Global Advisor, reveals that employee-owned companies that have employee stock ownership plans have demonstrated higher productivity and increased economic resilience despite economic fluctuations.
ESCA congratulates HNTB and its employees for their great achievement and wish them success in the future.