Business View Magazine Apr-2023

70 BUSINESS VIEW MAGAZINE VOLUME 10, ISSUE 4 PREFERRED VENDOR/PARTNER n Ventura Trust https://www.venturaesop.com/ Ventura Trust is the premier provider of ESOP trustee services, offering the resources of a large institutional trustee with flexible, responsive and high-quality personal services, while developing long-term relationships. If you are ready to explore how an ESOP can help you with your succession planning strategy, then our team is ready to provide personalized service to meet the unique needs of your business. There is an implicit understanding that Giroux Glass is setting the stage for the success of the next generation of owner-employees, including our future leaders. “Employee access to current leaders is extremely important in this type of work environment.” Another major benefit of an ESOP is that it supports employees long-term retirement plans, a topc that is very important to the management at Giroux Glass. Industry statistics indicate that ESOP owners have significantly higher retirement accounts than the average American worker. “In addition to ESOP shares, we also offer a generous 25 percent 401(K) match. Remarkably, even after many years of employment, that 401(K) account balance often pales in comparison to the performance of their ESOP account,” Lomedico says. These are among the many reasons that Giroux Glass is recognized as a leader in the ESOP industry, with management often contacted by other companies interested in understanding the opportunities. Lomedico adds, “We’re rolling out (new) peer groups where project managers from all of our locations share best practices – and can put them to good use on their own projects.” Those internal peer groups are another example of continuous education and the sharing among different locations. “Succession planning for the next generation of employee owners is another important goal for us,” Lomedico says. “While several members of the current executive team will continue in their roles over the next decade-plus, training and preparing new leaders is a multi-year process.” The executives at Giroux Glass believe strongly in the value of transparency of information. This is especially true given the company’s ESOP status. Lomedico thinks this transparency should extend from corporate strategy, to financials, to corporate culture. “The more information is shared, the fewer internal rumors will abound; so further improving and increasing that open communication is a continual best practice for us.”