(San Antonio, TX) Alterman, Inc. today announced that it has been named one of the city’s “Best Places to Work” by the San Antonio Business Journal, an award that is based upon a poll of the company’s workers. The company—which is a 100 percent employee-owned private company, or “S corporation employee stock ownership plan” (S ESOP)—was ranked second in the annual survey, up from eighth in the Journal’s 2010 survey.
The unique ownership structure is key to Alterman’s success, according to CEO Don Kuykendall.
“We treat everyone like they are an owner, because they are the owner,” Kuykendall explains. “That creates a more highly motivated, creative and enthusiastic workforce.”
“I was looking for a job and found a new family,” one employee told the Journal during its survey of more than 200 nominated employers in San Antonio. The employee added, “There is not enough room on this page to write all the good things that the company does for us.”
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.
In addition to employee ownership, Alterman also provides 401 (k) matching, 100% paid health insurance, paid training and health club fee reimbursement.
“Employee-owners like those at Alterman work smarter and harder because of their commitment and investment in the business,” said Greg Klein, chairman of the board of directors of the Employee-Owned S Corporations of America. “Alterman is a prime example of what S corporation ESOP companies can do for their workers and for our economy.”
Alterman, Inc. is one of San Antonio’s oldest and largest 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.