An Employee Stock Ownership Plan or ESOP is a way for employees to become part owners in the company they work for.
All MSI employees are eligible to participate in the ESOP.
An ESOP is an Employee Stock Ownership Plan. ESOPs allow the employer to deposit company stock into a plan so that employees own a part of the company. At MSI, Employee Stock Ownership is part of our overall benefits package and allows our employees to share in and benefit from the successes of our company.
MSI believes those who contribute their energies to the company should benefit directly from its success. All MSI employees are eligible to participate in the ESOP. Our Employee Stock Ownership Plan is designed to:
The ESOP creates a direct link between company interests and employee interests. At MSI, all our employees are owners, not just a few. To support our employee-owners making the right decisions, MSI practices “open books management”. This practice is used to inform and educate our employees about the company’s financial status, the impact of their performance, and our future plans. Our consensus-seeking culture encourages open discussions of questions and issues facing our employees and the company. Our management team is always available to our employees if they need assistance with any issue.
ITS FREE! At Miklos, the ESOP has no direct cost to the employee and all MSI employees are eligible to participate. This allows everyone to share in the growth of our company, to gain a beneficial interest in the stock of our company, and to accumulate funds for retirement.
Each year our employee owners receive shares of MSI stock and/or cash in their ESOP account, based on their compensation and length of company service. The 401(k) match is also given in the form of shares of MSI stock and/or cash. The benefit each employee ultimately receives from the ESOP depends both on the company’s success and on each employee’s length of employment with MSI. Our four year vesting schedule is designed to reward long-term company employment.
So you may be thinking “that sounds great, but does anyone actually like being a member of an ESOP?” Read what some current employees had to say:
Certified Employee-Owned® ensures that MSI has met rigorous independent standards of significant and broad-based employee ownership. In fact, just 0.5% of companies are eligible for this designation. It means that not only are we sharing the ownership of the company with all of our employees, but that we practice our employee-ownership model. This approach provides open-book reporting and regular discussions of the company’s business and finances. We firmly believe that every employee should have insight, input, and influence in the company’s current and future direction. To learn more, please visit www.certifiedeo.com.
Certified Evergreen businesses are built to be profitable, enduring, and market-leading businesses that make a dent in the universe. Evergreen businesses put their people first and avoid raising capital that puts money before mission and imposes a growth-at-all-costs or exit-oriented mindset. They measure success by how well they deliver on their mission and they embody the Evergreen 7Ps: Purpose, Perseverance, People First, Private, Profit, Paced Growth and Pragmatic Innovation. Learn more at Tugboat Institute.
MSI’s Employee Ownership Committee helps to promote MSI’s employee-ownership culture, educates staff on the ESOP, and hosts several ESOP-related activities throughout the year.
Meet the Employee Ownership Committee:
Beth is a database engineer and long-time MSI employee. She currently leads the Employee Ownership Committee and assists with event planning and execution.
Dave is a software tester with MSI. He has worked with teams of developers and system engineers to provide comprehensive testing of system functionality. Dave’s experience also includes user support, project management, and training.
Kim is a Project Manager for MSI. She has worked on a number of contracts supporting MSI clients and has advanced knowledge of agile methodologies, project and program management, and requirements analysis.
Shauni is a requirements manager for MSI. Her work includes interfacing with both customers and development teams to identify requirements and develop technical solutions. Shauni has extensive experience with agile methodologies and streamlining processes.
Charlie is software developer with MSI and a recent graduate of James Madison University. He enjoys programming in Python and Java and is interested in the development of self driving cars. When he’s not busy with work, Charlie enjoys exploring new local restaurants, craft beer, and PC gaming.
Monica is a database administrator and requirements analyst for MSI. She has worked with agile development teams to test and develop new web-based applications. Monica has also provided support as a software engineer and system administrator.