Right now, Memphis-based Archer Malmo is one of four finalists for a major new client. This week, that client is traveling throughout the country, visiting it and the other competing advertising agencies. And next week, Archer Malmo staffers will fly to their location, to make a final pitch.

Amid this process, Archer Malmo announced the transfer of 100% of agency ownership to its employees. And already, there’s been a palpable effect on its team pursuing the new contract. As CEO and principal Russ Williams explained, “You can see an extra skip in their step,” because they’re not just competing for the new client as employees — they’re doing it as employee owners.

On June 30, Archer Malmo officially transferred 100% of agency ownership to its 140 employees, through an Employee Stock Ownership Plan (ESOP). Annually, they’ll earn shares in an ESOP retirement account, simply by working. It won’t ding their salary, benefits, or bonuses, just as it won’t require them to purchase stock or take on any additional liabilities. The longer an employee is with Archer Malmo, the greater their value in ownership shares.

Read the full article on the Memphis Business Journal.