Business View Magazine May 2023

180 BUSINESS VIEW MAGAZINE VOLUME 10, ISSUE 5 employee-owner is at a different point in their life. As Bormann says, the value of building wealth toward retirement may not matter as much to younger employees in their 20s as it does to one that is nearing retirement age. Regardless, leadership is intentional in its efforts to educate employees about the ESOP model and how they can maximize their long-term wealth. There are several options when structuring the retirement portion of your ESOP, Rayser has strategically utilized a format that provides the employee with their funds upon retirement or separation from the company. Longevity with the company can assist in providing an additional tool for retirement goals. Fortunately, the proof of concept is clear to most employee-owners. “When you can show someone that they have a six-figure balance in their (ESOP account), you get a different level of attention from them,” Bormann says. In addition to the financial aspect, being part of an ESOP does increase employee engagement