The award is given annually to a company that demonstrates clear communication with its employees and a commitment to The ESOP Association’s vision of endorsing employee participation, wealth creation, and individual dignity and worth. Garland is now qualified for the National ESOP Company of the Year competition, which will be held June 21 in Washington, D.C.
Garland initiated its ESOP in 1985 and became 100% employee-owned in 2004. The company’s stock value has grown an average of 19.2% over the last decade. Its average employee balance ranks in the top five of the country’s ESOP companies with over 250 employees.
“This is an incredible honor to share with our employee owners,” said David Sokol, president of Garland Industries, Inc. “We have long embraced the culture of our employee owners and the tremendous benefit they provide to our organization. It has been a beautiful process to witness everyone benefit from our continued success.”
Garland promotes employee ownership through numerous initiatives, including quarterly town hall meetings with the president and innovation competitions that encourage employees to drive growth by developing new products and processes.