Read the original posting at the Cal-Tex Website
Cal-Tex is 97% employee-owned through an Employee Stock Ownership Plan (ESOP).As the 2011 Grand Prize Winner of theNational Center for Employee Ownership’s Innovations in Ownership Award and the 2011 ESOP Association’s Best Communications Award (Small Company), Cal-Tex is committed to providing a company structure that will benefit the employee and the customer. If you are considering becoming a Cal-Tex employee or customer, consider the benefits of being a part of a company that is 97% employee-owned and 100% dedicated.
What is an ESOP?
An ESOP is an employee benefit plan in which the company offers its employees stock, and thereby, they become partial owners of the company itself. Although some ESOPs require their employees to purchase the company’s stock, Cal-Tex provides its employee owners with their shares without charge. Our ESOP benefits the company, its employee owners and its customers.
Benefits of an ESOP to Cal-Tex
Cal-Tex views the main benefit of an ESOP as having its employees participate in the success of the company. Another outstanding benefit is that contributions provided by Cal-Tex to the ESOP are tax deductible. Further, studies have shown that including employees in employee ownership increases productivity, sales and profitability.
Benefits to the Employee
Cal-Tex contributes funds into the ESOP for eligible employees. With those funds, the eligible employee then acquires shares from the total number of available ESOP shares. Cal-Tex provides this ownership interest and retirement benefits without cost to the employee. Other benefits include working alongside others who are motivated and engaged in the well-being of the company.
Benefits to the Customer
Cal-Tex’s customers highly benefit from the ESOP. Since Cal-Tex’s employee owners have an interest in the current and future success of Cal-Tex, they are highly motivated and focused on providing the customer with the best of service – from an owner’s point-of-view. This attitude motivates Cal-Tex’s employee owners to go the extra mile for the customer. Cal-Tex’s customers can also feel good about the fact that Cal-Tex shares its financial successes with its employee owners.
What Does This All Mean For Me?
If you’re looking for a career that offers continual opportunity for growth and development, look no further than Cal-Tex. Cal-Tex goes beyond providing its employee owners with shares. We also provide training and educational programs to help develop a person professionally, personally and spiritually.
Phil DeDominicis is an ESOP strategist and M&A advisor who has guided 300+ companies through ESOP formations, financing, and transactions over 20+ years at Menke & Associates. He specializes in selling ESOP‑owned businesses to financial or strategic buyers and in helping ESOP companies acquire other businesses.
