Shepard Exposition Services Give Employees a Chance at Piece of the Company's Pie
General service contractor Shepard Exposition Services has changed its ownership structure and now allows qualified employees to take part in an Employee Stock Ownership Plan, known as an ESOP.
In order to qualify, employees need to be full-time or part-time, working a minimum of 1.000 hours per year.
Shepard has 438 qualified employees and offices that operate in 10 markets across the United States.
By giving employees an opportunity to be a part of the ownership of the company, it leads to improved service, increases in revenue and company stability, according to Shepard officials.
“It has been a goal of our strategic plan to establish Shepard as an ESOP company,” said Owner Carl Mitchell.
He added, “It has been a personal goal of mine, too, and I feel a great sense of accomplishment. Thanks to the focused contributions of our terrific team here at Shepard, who collaborate each and every day to enhance our customers’ goals and ensure their success, our vision is now a reality.”
Mitchell will retain a majority ownership, while allocating a sizeable portion of company shares for employee ownership.
“In most well-managed ESOPs, employees have a greater voice and feel respected. Companies tend to yield more profits, provide better customer service and generate higher sales which ultimately maximize human potential and strengthen free enterprise,” according to research conducted by the ESOP Association.
Mitchell added, “Shepard anticipates positive changes across the board under the new ESOP structure. We are looking forward to continued success thanks to this development which will help us achieve many additional goals going forward.”
Founded in Atlanta in 1905, Shepard is known for its Customer Concierge Program, the Customer Order Matrix and other customer-focused innovations, according to company officials.