A smooth transition to an employee-owned company

Grote Enterprises had made the decision to become 100% employee owned by transitioning to an Employee Stock Ownership Plan (ESOP) – a qualified retirement plan that provides employees with ownership interest in the company. The company was excited about the transition, which would ensure Grote Enterprises will remain independent while aligning the interests of employees, customers, and stakeholders, but was unsure about how to announce and roll out this transition to its team. 

TMC worked with Grote to communicate the transition in a way that reflected the company’s belief in the power of shared success and reinforced its dedication to the long-term growth and well-being of its workforce and the communities it serves. 

It started by TMC helping Grote think through the full process and creating action items that would help achieve the desired results. TMC helped lay a foundation by developing talking points about the ESOP and why all stakeholders should feel good about it. Then, we worked with Grote on timing, developed the presentation that was delivered at the rollout event, and recommended coordinating promotional items that reflected the fact that employees are now company owners. TMC modified an existing tagline to better reflect the fact that the shift in business novel. We also worked with Grote on continuing programs and how to keep people engaged, resulting in the launch of a semi-annual internal newsletter that will in part discuss the features and benefits of the ESOP.  

Over the course of just two months, the plans were deployed with great success! Grote has now embarked on a new chapter as an employee-owned company, which it believes will inspire even greater innovation, accountability, and dedication across its team.