OnFocus: Marshfield, WI – Staab Construction Corporation has announced it has recently completed the transition to being 100% employee owned through its Employee Stock Ownership Program (ESOP).
“We have been transitioning to 100% employee owned for the past few years,” said Ben Lee, Chief Operating Officer. “We started the ESOP in 1989 with the goal of eventually being 100% employee owned. We attained majority employee ownership in 2015, however attaining 100% employee ownership had always been the goal. Now, due to our continued success, we are fortunate to have achieved 100% employee ownership sooner than we originally anticipated.”
The benefits of being employee owned through an ESOP can be significant. According to The ESOP Association, employees of employee owned companies enjoy significant advantages over employees of other companies. Research has shown that companies that are employee owned pay higher wages to employees, pay better benefits, and provide significantly greater retirement income for employees than non-ESOP companies.
Staab Construction Corporation is a premier builder of municipal and industrial water and wastewater treatment facilities with more than 100 employees, was founded in 1984 by Aaron Staab. To learn more about Staab Construction Corporation visit www.staabco.com or connect through Linkedin or Facebook.
Submitted by: Staab Construction