Annual stock reveal events and the month-long “ESOPtober” festivities are highlights that boost morale and reinforce the benefits of the ESOP. These events not only celebrate company achievements but also highlight the personal investment employees have in the company’s success. CMI follows a 6-year plan to see its employees become fully vested in the ESOP, and thankfully, the company has been fortunate enough to report higher revenue each year. In fact, CMI’s stock has increased over 1,000% since its inception in 2018! So, these events have become a powerful way for the company to both highlight the path ahead for new employees and yet also acknowledge older employees reaching the tail-end of their careers operational structure to thank for its performance, as it allowed CMI to supply the market at a pace fast enough to satisfy its demand. CMI operates as a vertically integrated company, managing several subsidiaries that support each other through the supply chain. This integration not only streamlines operations but also enhances financial stability and growth. “It’s a very cohesive business relationship… “We do a moderate amount of business and sales outside of our vertical integration, but the lion’s share of our revenue comes from the production output and successes of our subsidiaries,” CEO Blaine Johnson explains, noting how helpful CMI’s ESOP status has been to its partnerships in general. It would be fair to say that CMI’s suppliers take particular pride and interest in working with the company and view its ESOP structure as a unique and engaging aspect of the company. LEVERAGING THE ESOP STRUCTURE The ESOP structure has been a significant factor in CMI’s success. Financially, the company’s performance has soared, with employee ownership driving daily investments in productivity, efficiency, and innovation resulting in increased equity and employee wealth. The shared ownership model fosters a sense of unity and common purpose, which creates a unique and common thread among every employee, essential for sustaining growth and weathering inevitable market fluctuations. Beyond that, CMI does a fantastic job of keeping employees motivated and engaged with its ownership model. Critical to CMI’s ESOP success is its commitment to community and communication. Internally, CMI has an ESOP committee responsible for crafting communications and planning events that promote employee ownership. 75 BUSINESS VIEW MAGAZINE VOLUME 11, ISSUE 07 CONSOL IDATED MINERALS INC.
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