Company News

Inaugural Employee Ownership Summit

Recently and for the first time, all four of our organizations (Empowered Ventures, TVF, Firstar Precision Corp, and Paramount Plastics) gathered in Carmel, Indiana, for a multi-day, face-to-face summit to share ideas and strategize about the most effective ways the companies could work together to build strong employee-ownership cultures. Workforce Development’s Jim Bado facilitated the discussions for the 14-person group.

Employee-ownership communication committees (unlike ESOP administration committees) are commonly formed in employee-owned companies to lead ESOP communication efforts, foster an employee-owner mindset, and act as ambassadors of engagement. Communicating the benefits and responsibilities of employee ownership can be challenging, depending on the stage of the ESOP and the workplace environment.

At Empowered Ventures, each of our companies forms their own ownership committee. TVF’s committee has been in place for many years; the organization became employee owned in 2010 and the committee was formed a few years later. Because Firstar and Paramount both joined Empowered Ventures in 2021, their committees are newer.

This inaugural summit sparked idea-sharing, collaboration, and connection among all attendees. TVF’s seasoned committee was inspired by the fresh perspectives of the Firstar and Paramount teams and helped their “ESOP cousins” kick start their employee-owned culture and communication efforts.

We are excited about the wider concept this gathering represents: creating an eco-system of support for all our companies. With multiple SMBs in various industries, and more joining the fold in the future, we have an opportunity to create cross-company, cross-functional collaboration and idea-sharing, which will enable all our companies to grow and improve together. Being part of one overall ESOP also results in strong incentives to help each other.

We believe when everyone cares, greater things are possible. We’re excited about the possibilities of collaboration and mutual support that exist in our employee-owned holding company, and thrilled with the results of our first ownership committee gathering.

If you are interested in what we are doing and want to learn more, please get in touch!

Tags: Company News
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