Intrust IT is an employee-owned company, through an employee stock ownership plan (ESOP). But it didn’t begin that way. The ESOP was implemented in 2019 as part of an eight year plan that began in 2012.
Our founder, Tim Rettig as well as his father, Jay Rettig, were recently interviewed by the Leading With Courage Academy about the ESOP model and it’s benefits, including financial benefits, increased employee involvement and efficacy, and better accountability.
"The most significant piece of advice is to make sure that the employees understand how the ESOP works and how their actions can improve the value of the company. How cost savings they can identify, additional margin that they can earn from the new products, etc. drives share value."
- Tim Rettig
How to run an employee-owned company
An ESOP company needs to be financially transparent to its owners, the employees. That way they can see how their actions can improve the value of the company and how the cost savings THEY can identify to drive up the share value.
Read the full interview to learn more about becoming an employee-owned company.