Business View Magazine - Feb 2024

Vice President of Finance Wayne Chamberlain expresses this sentiment well, saying, “We have people who’ve worked on the shop floor, running machines… and they’re retiring with hundreds of thousands of dollars in their ESOP account, for which they’ve put in nothing. In addition to that, they get their 401k and their social security.” By striking a careful balance between ESOP education, transparency of growth, and consistent employment investment, The Will-Burt Company has managed to create an organization that has been quite impactful to the quality of life of its employees, especially those who are nearing retirement. As a result, the company’s employees act as an entirely cohesive unit of individuals who understand exactly what their hard work will translate into down the line. “Money’s getting added every year, and [employees] just don’t want to give that up. They truly understand the value of being an employee-owner,” Hart says, Every year, employees working within the company receive new shares from the ESOP as a contribution. So, they see the new shares coming into their account, but they also see the value of their shares increase through the annual share price increases we’ve had over the last several years.” Since 2017, The Will-Burt Company’s share price has gone up by 250%, so it is safe to say that long-term employment and retention have not been an issue. Richard Lewin CEO & President of The Will-Burt Company I am proud to lead an organization of employee- owners that are thoroughly engaged and committed to all the good work that Will-Burt does.