THE ESOP IMPACT ON TODAY AND TOMORROW Based on its results, CMI’s ESOP structure has certainly allowed it to deliver top-quality service and significantly impacted its recruitment and retention efforts. Prospective employees are attracted to the idea of ownership and the long-term benefits it provides. “The whole concept of being an owner… it’s impactful… it resonates. We’ve hired very good people promoting that ownership concept,” Johnson says, explaining that the ESOP’s benefits are even promoted to talented temporary employees to excite them about potentially coming on board full-time. and more focused on retirement planning. Externally, CMI promotes its ESOP status to suppliers and customers, emphasizing the benefits of dealing with an employee-owned company via multiple marketing methods like emails and even physical t-shirts. Naturally, CMI’s approach resonates well with partners, enhancing the company’s reputation and fostering strong, stable relationships. This is not just a marketing strategy but a testament to the company’s commitment to quality and service, as every employee having a vested interest in the company’s success is a strong indicator of the quality of service it will provide. 8 BUSINESS VIEW MAGAZINE VOLUME 11, ISSUE 07
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