Friday, September 1, 2017, marked the one-year anniversary of the InSource Employee Stock Ownership Plan (ESOP) purchasing the balance of InSource Solutions company shares to become 100% employee owned.
When the announcement was made, we had no idea what this would mean. Who would run the company now? What would change? What would this mean to me?
After a year of reflection, I feel privileged to be at InSource Solutions and to work with the team I work with; and when I say team, I mean the whole company. People truly come together in this organization to help one another which in-turn helps our clients succeed and achieve their goals.
InSource is the exception of how most businesses operate, where the rule is usually “sell the company, take the profit, and move on.” The founders of InSource are truly unique people: they had a vision and have stayed true to that vision. As of 2017, the National Center for Employee Ownership (NCEO) estimates there are roughly 7000 ESOPs, like InSource, in the US covering about 14 million employees.
So what has changed? Well, the company is still being run the same as it always has, the people in leadership are guiding the company as they did before the remaining stock was purchased, and I don’t think anyone would want it any other way. The day to day aspects of our business haven’t changed a bit.
For me, my job is still the same job, but now I have a greater sense of pride in that I have ownership. I notice others that also carry with them this “pride” of ownership. There also seems to be the feeling of doing the right thing. Whether it’s finding ways to keep our expenses down or sharing best practices with each other on how to go the extra mile to help our clients.
There definitely is a sense of change in the air from a year ago. It has only made InSource a better company to work for and a better company for our clients to do business with.