Besser is unique in many ways, however, being an employee-owned company is arguably the most notable. In 2004, Besser implemented an Employee Stock Ownership Plan (ESOP), which was a tremendous achievement for our traditional, family-owned company. For the first time in 100 years, it meant that every single employee would begin to benefit from the success of the company by becoming shareholders. While having an ESOP most directly impacts employees by adding potential for a boost in retirement funds, it also creates a positive impact on the customers we serve. Without question, our employees (shareholders) are aware that their everyday decisions affect the company’s share value from year to year. Each time an employee helps to create innovative products, manufacture quality parts, offer reliable training and service, and provide the best overall customer experience, they create long-term, loyal customers. Customers create the revenue needed to keep our company successful and therefore more valuable to its shareholders. That value comes full circle and has proven beneficial for creating a proactive, customer-focused team.
Adding to Besser Company’s uniqueness is the fact that all employees – those in international locations and those in unions – are included in the ESOP. This isn’t typical for most ESOP companies, however, Besser recognizes that each employee plays a critical role in the success of the company and is acknowledged and rewarded as such.
Becoming an ESOP was a cultural shift that has since pushed our teams to work smarter and more efficiently. It has created a renewed team building atmosphere that has boosted our company's success to greater heights. This was and is a game changer for employees and consequently our customers. We will only continue to get better because of it.