On November 9th we gathered for our annual employee celebration event and the day was full of excitement and surprise announcements from our leadership team. The biggest announcement was that as of November 1, 2021 we are officially a 100% Employee Owned Company!
But, what does this really mean for T.W. Frierson?
Employee ownership means no single person, family, or third party is a majority shareholder of company stock. Instead, the company’s stock is allocated among employees through shares. Working for an employee owned company is a positive experience because employees at all levels of the organization have the same ownership opportunities. It’s a true team environment.
The corporate advantage to sponsoring an ESOP is the company becomes exempt from corporate federal income taxes. Employee owners also win by working in a purposeful work environment with a valuable payday at retirement, and with everyone working hard to increase their payday, all of T.W. Frierson’s stakeholders reap the benefits!
Our Big Hairy Audacious Goal: 40 In 40
T.W. Frierson embraces a family culture of sharing and equality. In fact, we’re as passionate about fostering a thriving work environment for our employees as we are at building things. In an effort to literally put our money where our mouth is, T.W. Frierson has set a big hairy audacious goal of creating at least 40 ESOP millionaires by 2040. We’re not just focused on the business, we are also focused on our family of owners and ensuring they succeed.
Employee Owner Testimonial
What does being 100% Employee Owned mean to you?
“Peace of Mind… If all Employee Owners are truly invested in doing a great job, saving money, and having the best interest of the company in the forefront of each decision made, we should have Peace of Mind that our years of retirement will be the best years of our lives.” – Sara Proctor, Project Engineer
“I’ve never been part of a company that’s employee owned, and I’ve always struggled with working for a large corporate company that was all about making money for the company at the expense of the employees. Now that I’m working for an employee owned company, it makes it fun to come to work and appreciate the hard work everyone puts in because I know at the end of the day, it not only helps me, it helps every other employee in the company and that’s what a family is all about. Helping each other every day to do and be better for each other!” – Mike Nolan, Senior Project Manager