due to concerns about intellectual property, Stress Engineering applies it in areas where it is permitted. A VESTED INTEREST IN THE FUTURE A defining characteristic of Stress Engineering is its employee ownership model, an ESOP (Employee Stock Ownership Plan) that has evolved since the company’s inception. From its origin, the company was employee-owned, initially structured with a limited number of partners who were offered stock as they progressed. This model worked well for a long time, but created a “Have and Have Not” mentality between the partners and the rest of the company. In 2005, the company began its transition to a formal ESOP, a move that would provide a better return for retiring partners and offer a better retirement vehicle for all employees. About a year and a half ago, the company completed this process, becoming a 100% ESOP. This move eliminated the old partnership structure and its associated quarterly dividend checks, leading to a restructuring of the company’s bonus scheme. The ESOP model is now a significant part of the company’s recruiting program, a point of intrigue for potential hires who are often unfamiliar with the concept. ENERGY WORKFORCE & TECHNOLOGY COUNCIL TRAIN. ELEVATE. NETWORK. ADVOCACY & INFLUENCE LEADERSHIP & WORKFORCE DEVELOPMENT MARKET INTELLIGENCE & GROWTH www.energyworkforce.org Energy Workforce & Technology Council is the national trade association for the global energy technology and services sector, representing more than 650,000 U.S. jobs in the technology-driven energy value chain. 62 BUSINESS VIEW MAGAZINE VOLUME 12, ISSUE 09
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