Business View Magazine - Dec 2023

other ESOP companies, fostering the ESOP culture, and expanding its benefits.” Jamshidi highlights the positive impact of the ESOP on employee turnover at CTL Engineering. “Before the ESOP, employee turnover was high, but as employees saw their ESOP stock value often surpassing their 401(k) savings, their inclination to leave for slightly higher pay decreased,” he explains. “Now, the average employee tenure is an impressive 8.6 years, with instances of employees retiring after nearly five decades.” Donley highlights the financial growth since becoming majority ESOP-owned in 1999, with invoicing increasing by 11.1% and a notable rise in average employee tenure. Jamshidi further explains the economic advantages of the ESOP, stating that in the last 15 years, their stock value has grown by 13.5%, outperforming primary market benchmarks like the S&P 500 and the Dow Jones Industrial Average. Strategic Planning: Focusing on Employees and Growth CTL Engineering’s demand forecasting and strategic planning approach involves a blend of relationship- driven business, reputation, and a comprehensive understanding of market trends and analytics. This strategy addresses immediate business needs and focuses heavily on employee development and satisfaction, reflecting a holistic approach to business growth and sustainability. Jamshidi explains the company’s strategy in leveraging its reputation and relationships. “Much of our work is driven by our reputation and the relationships we’ve built over the years. We’ve reached a point where companies approach us for acquisition, a testament to our standing in the industry. In our strategic planning, we involve key employees extensively. We recently concluded a strategic session with around 25 key staff members, focusing on our vision for the next five years.” 148 BUSINESS VIEW MAGAZINE VOLUME 10, ISSUE 12