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Fleetwood-“Together We Own It”
That slogan is proudly displayed at the entrances to Fleetwood along with the signatures of all of our team members. Why…because the team members of Fleetwood own 100% of the company. We truly are employee-owners.
E.S.O.P. History
In 1975 Fleetwood became one of the first firms in the U.S. to form an Employee Stock Ownership Plan (ESOP). Since that time the ESOP has steadily increased its ownership share of Fleetwood’s stock.
What is an ESOP?
- An ESOP is an employee benefit plan that makes team members owners of the company.
- Team members invest their careers (rather than their money) to earn ownership in company stock.
What is the purpose of an ESOP?
ESOPs serve two basic purposes:
- Retirement Benefit: ESOP’s provide a retirement benefit for team members. Fleetwood makes an annual contribution to team member’s ESOP accounts allowing those accounts to purchase shares of Fleetwood stock.
- Ownership: ESOP’s create an unusual culture where employees are owners. This gives everyone an added incentive to help the company prosper (act like owners).
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“The employee ownership concept works on the common sense notion that if workers share in the benefits of increased productivity, they will have a clear incentive to improve corporate performance.” ESOP Association
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What are the advantages of an ESOP?
According to a recent survey by the ESOP Association (LINK), ESOPs provide a number of advantages:
- Financial benefit for employees – everyone shares in the ‘wealth’ of the firm
- Ownership Culture – increased dedication and productivity
- More stable work force - Fleetwood’s annual employee turnover is <5%
- Tax advantages for Company and owners
- Market for the company stock – allows owners to sell the company to the employees
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At Fleetwood we also believe that employee ownership is the right way and the best way to structure a company.
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