A few weeks ago EEA Consulting Engineers Founder & Chairman of the Board Mike Hart presented at the 2018 Employee Ownership Conference in Atlanta.
As the nation’s premier gathering on employee ownership, the conference hosted by the National Center for Employee Ownershipbrings together around 2,000 leaders from employee-owned companies across the United States. “It provides an ideal opportunity to learn, network, and share knowledge with others,” according to their website.
National Center for Employee Ownership (NCEO) Founder Corey Rosen invited Mike to present on “Key Issues in Compensation for Staff” on Tuesday, April 17 at 11:15 a.m.
“I was pleased to be invited and share my insights on compensation being more than money,” EEA Founder & Chairman of the Board Mike Hart said. “Most people want a secure job where they enjoy the work and feel treated fairly. Employee Stock Ownership Plans (ESOPs) are a great vehicle for maximizing employee owner engagement and achieving synergistic benefits for all stakeholders.”
In the presentation, Mike shared that most people value:
- Job security — “I will have a job”
- Job satisfaction — “I like what I do or the people”
- Job equity — “I am treated fairly”
He encouraged other ESOP leadership to give employee owners a fair, competitive wage so they feel secure, but also give them an incentive to perform at a higher level and also tie individual incentives to group or company performance to economically link employee owners together.
Salaries, Mike said, should be derived from industry survey data and local insights to create a market mean structure. Annual bonuses should be based on individual contributions to profitability, the company’s overall performance, and the shared risk (no bonuses until minimum profits are achieved). Also, every employee owner can share in the equity for the long term through an ESOP with a percentage contribution of salary with vesting.
View his PowerPoint presentation below:
About EEA Consulting Engineers
Austin headquartered EEA Consulting Engineers is licensed in all 50 states and the District of Columbia for MEP engineering (mechanical, electrical, and plumbing) services, energy conservation, commissioning, process utility engineering, and utility master planning. Since the company’s founding in 1977, the Austin engineering company has grown from two staff to now more than 80 personnel with offices in two states.
Our Texas engineers and New Mexico engineers have completed projects in the United States, Puerto Rico, Canada, Dominican Republic, Mexico, and Singapore for central utility plants, commercial clients, data centers, the government and military, the high tech and semiconductor sector, higher education institutions, industrial facilities, pharmaceutical and biotechnology facilities, recreational parks and pools, religious institutions, and retail and senior living giants. EEA is an Austin American Statesman “Top Workplace” and has been a Consulting Specifying Engineer magazine “MEP Giant” multiple years (a top 100 MEP engineering firm in the USA). For more information, please visit www.eeace.com
Categories: EEA Experience