(San Antonio, TX) Alterman, Inc. has been honored in the San Antonio Business Journal’s “Best Places to Work” for the fifth year in a row, the journal announced recently. Alterman—which is a 100 percent employee-owned private company, or “S corporation employee stock ownership plan” (S ESOP)—was ranked sixth in the annual survey for the San Antonio area.
The unique ownership structure is central to Alterman’s continued recognition, according to CEO Don Kuykendall.
“The level of respect for one another is very high,” Kuykendall explains. “Our culture of employee ownership creates a highly motivated, creative and enthusiastic environment for our diverse workforce.”
The award is based upon a poll of the company’s workers. The awards highlight companies with the best workplaces in the San Antonio area, including Bexar, Atascosa, Guadalupe, Wilson, Comal, Bandera, Medina and Kendall counties. Alterman has placed in the Top 10 every year since 2008.
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.
“Alterman’s continued commitment and investment in their business is clearly shared by every employee-owner at the company,” said Greg Klein, chairman of the board of directors of the Employee-Owned S Corporations of America. “They are a role model for companies in their area and around the nation, demonstrating that you can be an industry powerhouse while still being a great place to work.”
Alterman, Inc. is one of San Antonio’s oldest and most respected electrical and voice / data communications contractors. Alterman 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. Alterman provides complete installation expertise, 24/7 service, in-house design / build and Building Information Modeling (BIM) and fast-track construction for a wide range of electrical needs, as well as voice and data communications systems, video, access controls, security and surveillance systems and alternative energy solutions for LEED certification.
The Employee-Owned S Corporations of America (“ESCA”) is the Washington, DC voice for employee-owned S corporations. ESCA’s exclusive mission is to preserve and protect S corporation ESOPs and the benefits they provide to the employees who own them. These companies have an important story to tell policymakers about the tremendous success of the S ESOP structure in generating long-term retirement savings for working Americans and their families. ESCA provides the vehicle and the voice for these efforts. ESCA represents employee-owners in every state in the nation.