Inspired by His Father’s ESOP 15 Years Ago, Intrust IT Founder and CEO Tim Rettig Implements an ESOP at His Cincinnati IT Services Company
Intrust IT proudly becomes employee owned ahead of schedule
CINCINNATI, OH. (November 27, 2019) — Intrust IT, a Cincinnati IT support, managed services and cyber security company, is proud to be employee owned through an employee stock ownership plan (ESOP) as of November 27, 2019.
Founded in 1992 by Tim Rettig, a second-generation technology entrepreneur, Intrust IT has an award-winning culture and a hyper-focus on customer satisfaction. As a locally owned small business, the Intrust staff empathizes with business owners and provides responsive IT support. Radical management practices, such as the Great Game of Business open-book management, allowed Intrust IT to become debt-free ahead of schedule. These practices fast-tracked the ESOP transition, originally scheduled for 2020, to be completed in 2019.
Now operating as an ESOP, Intrust IT offers clients the ability to talk to the owner every time they call, because, well, they are all owners. “Our transition to an ESOP will enhance our great employee engagement even more as employees have a stake in the outcome in the form of retirement benefits tied to the success of the company,” Rettig said.. “I was inspired by the successful transition to an ESOP of my father’s software company about 15 years ago, and it still operates in Dayton today. At some point, all companies will have to change ownership models, this seemed like the most positive way to transition a company to new ownership.”
Intrust IT has emphasized building a sustainable organization through a focus on customer satisfaction and the three pillars of empathy for the customer, ingenuity in finding solutions and happiness. “Providing transparency and keeping employees in the know has been an important part of our journey together as a company,” Rettig explained. “Our many awards and achievements have been made possible by the skills and dedication of our team members. When they go the extra mile, it’s going to benefit and enrich all of us as a company helps provide assurance that our jobs are going to be there for the long term.”
The focus on customer satisfaction is fueled by a daily review of the customer satisfaction numbers. Everyone on the team is aware of how they are doing all the time. “An ESOP creates an environment where there is much less employee turn-over, which is a common problem in the IT industry,” Rettig said. “By having more tenured employees, we are able to offer better support to clients through more skilled and stable employees. Plus, with the engaged employees at Intrust, we not only understand IT, but we get to know the business aspects of each client’s unique business as well.”
The move to an ESOP will not change the management structure of Intrust IT. Tim Rettig continues to steer the direction in his current role as chief executive officer. The executive team members also remain in their roles.
In addition, the company remains committed to promoting a positive and professional work environment where people matter. “Some of our clients have been with us since we started 27 years ago. There are a lot of acquisitions in our industry. This ESOP helps our clients know that we will be here for them,” Rettig said.“We are committed to excellent customer service and building a great partnership with them.”
About Intrust IT
Intrust IT is a Cincinnati IT support and cyber security partner that gets you and gets back to you. As a locally owned small business, we empathize with business owners, use our ingenuity to solve problems, and deliver service that makes our clients happy. Our company was founded in 1992 by Tim Rettig and ever since then we’ve been putting the “service” in “managed services.” As of 2019, we are an employee-owned company. By growing together as a business, we inspire each other and our clients in a new way to do more and impact our region.