Maybe you’ve heard about employee ownership – but do you know the impacts that this business model has on culture, stability, and wealth building? Parametrix is a well-established employee-owned company. Founded in 1969, our original owners decided to transition the company to the employees in 1992. In 1999, we became 100% employee-owned.
Alignment: We are aligned in our goals because we all have a shared interest in making the company more successful.
Commitment: We invest in our employee-owners. We put our people first because shared ownership increases commitment.
Relationships: Our people are in it for the long-term, which strengthens bonds, increases collaboration, and fosters mentorship.
Accountability: We only succeed as owners if everyone contributes. We hold each other and ourselves to high standards.
Retention: In the 2020 recession, ESOP companies were between 3 – 4 times more likely to retain staff at all levels.* Parametrix had a turnover rate of just 6.1% in 2020.
Job Stability: In 2020, about one-third (35.5%) of majority ESOP companies cut hours for one or more employees. By comparison, nearly two-thirds (62.9%) of other companies cut hours for one or more employees.* At Parametrix, we had more changes from on-call to full or part time than changes from full or part time to on-call during 2020.
Pay: Throughout the last recession, only about a quarter (26.9%) of ESOPs cut pay for any employee, compared to more than half (57.3%) of other firms.* Total salaries for Parametrix employee-owners increased by 2.5% in 2020.
*Source: Blasi, J., & Kruse, D. (n.d.). (rep.). Employee Ownership Foundation. Retrieved from https://employeeownershipfoundation.org/sites/eof-master/files/2020-10/EOF_COVID_2020.pdf.
Through employee ownership, everyone at Parametrix shares in our success. Yearly contributions of company stock can make a huge impact. Parametrix targets providing a 6% employee stock ownership contribution and often exceeds the target significantly. Here is an example of what that could look like:
Interested in becoming an employee-owner at Parametrix?
Learn more, explore opportunities, and apply at our careers page.