One of the highly sought employee benefits.
Rycon’s ESOP (Employee Stock Ownership Program) is an attractive benefit which sets our company above the rest. Being employee-owned provides our employees with a great sense of motivation, allows them to feel included and provides their voice through equity ownership. We have found that this benefit enhances employee productivity and profitability. In short, when the company does well, our employees reap the benefits; and when our employees reap the benefits, they invest more constructive effort into the company. It’s a very positive cycle providing the employees with job security and enthusiasm to continue our success!
How does it work?
After the first year of continuous full-time employment with Rycon Construction, Inc., employees are entered into the ESOP program. After each fiscal year all employees are awarded shares and those shares are assigned a value based on the overall profitability of the company. It is fully dependent upon how we, as a company, perform during the fiscal year, and not on the uncertain rise and fall of stock market.
Additionally, our employees do not monetarily contribute toward this program, so they may sit back, relax, and allow their “stock” to grow! These contributions continue as long as the employee is active with the company. Once an employee surpasses their sixth consecutive year of continuous employment with Rycon Construction, they become 100% vested.