The decision to transition to a 100% ESOP structure was deeply rooted in the founders’ desire to empower their employees and acknowledge their collective contribution to the company’s success. “Bill and Jan worked side-by-side with all the employees… and they saw that the best thing was to let the employees continue to run what we had all started together. It wasn’t just a ‘them’ thing, it was a ‘we’ thing, and they realized that,” Brookes explains. This approach stands in contrast to common private equity models, and fortunately so, as the ESOP structure has had a profound influence on Acme’s growth, employee retention, recruitment, and overall company culture. The value of the ESOP is communicated annually through statements that detail shareholdings and their worth. This financial transparency, combined with a vibrant atmosphere stimulated through regular social events like summer company parties and colorful Christmas celebrations—complete with presents for both children and adults—strengthens bonds, reinforcing the shared success that defines Acme. For long-term employees like Brookes, becoming owners was a source of great excitement and deeper engagement in daily operations. To ensure that this continues within the culture, new hires are carefully trained and guided. “Everybody here helps the next guy or pushes them in the right direction if they see them falter or go the wrong way. We pick each other up. So, if someone makes a mistake, we’ll say, ‘Hey, let me help you fix that.’ Those types of things are what make it such a great team environment,” Brookes expresses. And while compensation is a major draw for those who recognize the benefits of an ESOP, beyond competitive compensation, the ESOP offers a powerful long-term retirement benefit, often seen as superior to a traditional 401(k). 83 BUSINESS VIEW MAGAZINE VOLUME 12, ISSUE 08 ACME TRUCK BRAKE & SUPPLY CO.
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