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.