Quiet quitting, the Great Resignation and looming economic uncertainty are top concerns for employers today.

As a result, advertising agencies have invested in several ‘perks’ that entice employees to stay loyal, productive and enthusiastic, from hybrid work arrangements to expanded PTO and family-friendly schedules. But why not take a page from Oprah, who famously handed out cars to her audience with the memorable “You get a car! You get a car!” Instead of keys to a new ride, however, consider handing out keys to the company. That is, make your employees the owners of the business: “You’re an owner! You’re an owner! You’re an owner!”

This is no gimmick, but a sound financial and human resources strategy that has proven successful for many companies called an Employee Stock Ownership Plan, or ESOP. ESOPs transfer ownership to employees through a retirement plan, whereby they earn shares of company stock. At a time when companies – in our industry and others – are searching for ways to steer themselves against economic uncertainty and invest in their talent for future growth, ESOPs can be that rare solution that does both. Here are five ways this ownership structure benefits employees and their companies.

Read the full article on The Drum.