Our usual focus on the EsOp Podcast and Mini-cast is about what employee-owned companies do right. But in reality, the majority of employee-owned companies are stuck in neutral, and sometimes getting out of neutral is very challenging. For many companies, ESOPs are an economic retirement benefit only that has failed to deliver in any other aspect.
There are many great options on where to turn for resources to help get out of neutral. But for some these great resources can lead to sensory overload. Where do you start if you don't know what you don't know? Bret offers his thoughts on how he can help get your employee-owned company out of neutral, and reach the next level.
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Mini-cast 254 Transcript
[00:00:00] Bret Keisling: Welcome to the ESOP Mini-cast. Thank you so much for listening. My name is Bret Keisling and, as it says on my business cards, I'm a passionate advocate for employee ownership. Our usual focus on the EsOp Podcast and Mini-cast, as well as my friend Jesse Tyler's Owner to Owner podcast, is about what ESOPs, worker co-ops, and employee ownership trusts do right.
[00:00:30] Bret Keisling: And I'm glad that's our focus, because it's a lot more fun to talk about successful employee-owned companies than it is to do case studies of company failures.
[00:00:39] I sometimes wonder if by focusing on the successes that we inadvertently underplay all of the hard work that goes into making a successful company of any sort, let alone an ESOP.
[00:00:50] In reality, the majority of employee-owned companies are essentially stuck in neutral, and sometimes getting out of neutral is very, very challenging. For many companies, ESOPs are an economic retirement benefit only that has failed to deliver in any other aspect.
[00:01:06] Let's face it, business in general is really hard. Building and sustaining a company culture is really hard. Changing a company culture that is ingrained at your company may be the hardest task of all.
[00:01:21] I'm not alone when I point out that becoming employee owned can make a good company great. But it can't make a bad company good.
[00:01:29] It's critical to put in the time and the effort to make things better. Our most successful employee-owned companies understand that for as many things as they do right, there are always things that they can do better or different.
[00:01:42] There are an awful lot of options on where to turn for resources to help your company get out of neutral. I love the work that the National Center for Employee Ownership does. The same with EOX and all of the amazing state centers that before long will comprise half of the country. And Certified EO has done incredible work in their eight years or so of existence.
[00:02:03] But for some, these great resources can lead to sensory overload. Where do you start? How do you get answers and ideas if you don't know what you don't know? Humbly, I think I can help you, and I'd love the opportunity to do so.
[00:02:18] Today, I'm pretty well known in the employee ownership field for my work on this podcast, which I've done since 2017. It often comes up that I spent seven years as a co-founder and managing director of a boutique ESOP trustee firm. Prior to that, I spent two and a half years as the CEO of an employee-owned company that hired me immediately after they transitioned to a 100 percent ESOP. I have experience and know firsthand how challenging it is to change the culture of an established business.
[00:02:47] And I've been so fortunate since 2017, as host of these podcasts and producer of the Owner to Owner podcast, to be immersed in all aspects of employee ownership. I've seen what works and what doesn't, and whatever level of employee ownership engagement your company has, I can help guide you to the next level.
[00:03:06] If you visit our show notes, we'll include my contact information and also a link to my calendar.
[00:03:12] Feel free to schedule a brief, no obligation, introductory conversation, and let's see if we can't get your employee-owned company and your employee owners where they deserve to be.
[00:03:22] There is no reason for your employee-owned company to be stuck in neutral. Reach out, I'd love to help you get to the next step.
[00:03:29] With that, we'll wrap up this episode of the Mini-cast. Thank you so much for listening. This is Bret Keisling. Be well.
[00:03:37] Bitsy McCann: We'd love to hear from you! You can find us on Facebook at EO Podcast Network and on Twitter [X] @EsOpPodcast. This podcast has been produced by Bret Keisling for the EO Podcast Network. Original music composed by Max Keisling. Branding and marketing by BitsyPlus Design. And I'm Bitsy McCann.
Standard Disclaimer: The views expressed herein are my own and don't represent those of my own firms or the organizations to which I belong. Nothing in the podcast should be construed as guidance or advice of any kind in any field and the fact that I mentioned an organizational website or an advocate or a company on a podcast does not reflect an endorsement, but if you've heard your name or your group's name mentioned on this podcast, I'd love to have you come on and talk about it yourself.
A note on the transcript: This transcript was produced by Descript, an automated transcription service. While it has been reviewed by The EsOp Podcast, we cannot guarantee the accuracy of the transcription. Please refer to the original audio when citing sources.