Employee-Owned. One Team.
Our company has been 100% employee-owned since 2003.
At Técnico, we believe that employee ownership through our Employee Stock Ownership Plan (ESOP) is a remarkable opportunity for our employee-owners to actively share in our achievements. We foster a culture that empowers employees to take pride in their roles within the company and ownership of the value they bring to our customers.
What is an ESOP?
An “ESOP,” or Employee Stock Ownership Plan, is a unique employee benefit plan provided by employers to their employees. The ESOP serves as both a business ownership structure and a qualified, defined contribution retirement plan, 100% funded by the employer.
Contrary to traditional stock ownership where employees purchase shares, an ESOP offers employees the opportunity to become partial owners of the company they work for by acquiring stock in that company. Contributions to the ESOP are made solely by the employer, and the eventual benefit depends on these contributions and investment returns.
Essentially, an ESOP operates as a benefit plan wherein the company acquires stock for the plan, which is held in the name of all eligible employees. Each eligible employee is allocated a portion of company stock within their individual ESOP account, with the expectation that its value will appreciate over time. Upon leaving the company, employees are entitled to receive the contents of their ESOP account, representing their share of the accumulated company stock.
ESOP Basics:
- An ESOP is a qualified, defined contribution employee benefit plan.
- Contributions to the ESOP are solely made by the company.
- ESOP participants have a vested interest in the company’s future success.
- ESOP companies typically offer payout levels 3 to 7 times greater than those of 401(k) plans, on average.
Técnico is proud to offer our employees the unique opportunity to become employee owners as shareholders of the company.
The ESOP – Empowering An Employee-Driven Culture
Success for any organization is driven by the people, the dedicated individuals who propel it forward. Our ESOP marks a significant stride toward cultivating a workplace where employees are not just valued but empowered. Beyond serving as a retirement or employee benefit, the ESOP promotes an ownership culture and fosters an ownership mindset among our team members, offering direct financial rewards tied to our collective achievements and individual efforts.
Our company culture revolves around supporting our people, and the ESOP amplifies this ethos by providing each employee-owner with a stake in our shared success. We understand that it’s the commitment and hard work of our team that shapes our company’s trajectory, and it’s only fair that they reap the rewards from their contributions.
ESOP Advantage:
- Cultivating Culture – Our ESOP bolsters our collaborative culture, fostering teamwork towards shared objectives.
- Common Goals | Alignment of Goals– Being part of an ESOP reinforces our culture of pursuing common goals together.
- Enhanced Benefits – The ESOP structure offers an additional retirement benefit, further enriching our employees’ compensation package.
- Competitive Edge – Our ESOP unites our employees, galvanizes our workforce to strive for excellence, driving us to outperform our competitors.
We take immense pride in our employees’ invaluable contributions to our continued prosperity, respecting our heritage and honoring our legacy as confidently navigate towards the future. Together, we chart a course to success, recognizing that our employees’ achievements are the foundation of our company’s triumphs – their successes translate into our own.
How Our ESOP Benefits Our Customers
At Técnico, our commitment to excellence extends beyond our internal operations to the services we provide to our customers. We are dedicated to delivering high-quality work, ensuring safety, meeting deadlines, and adhering to budgetary requirements for our customers’ projects. Moreover, we pride ourselves on developing innovative solutions to support the long-term success of our customers’ needs.
Our ESOP plays a pivotal role in reinforcing these objectives and directly benefits our customers by fostering:
- Greater accountability for our work, as each employee has a personal stake in the success of our projects.
- A commitment to quality and dedication to delivering high-quality work, driven by our employees’ vested interest in the company’s success.
- A vested interest and personal investment in ensuring the success and satisfaction of our customers, as each employee-owner is personally invested in the outcomes of our projects.
Through our ESOP, we not only empower our employees but also enhance the value and quality of the services we provide to our customers, ensuring their satisfaction and long-term success.
ESOP FAQ
Q: I’ve never heard of an ESOP? What is it?
A: An ESOP, or Employee Stock Ownership Plan, represents a distinctive employee benefit program facilitated by employers. This plan functions dually as a mechanism for business ownership and a qualified retirement plan, entirely funded by the employer.
Unlike conventional stock ownership approaches where employees purchase shares, an ESOP offers employees the opportunity to obtain partial ownership of the company they work for through stock acquisition. Contributions to the ESOP are exclusively made by the employer, and the eventual benefit is contingent upon these contributions and investment returns.
In essence, an ESOP functions as a benefit scheme whereby the company procures stock for the plan, held under the name of all eligible employees. Each eligible employee receives a designated portion of company stock within their individual ESOP account, with the expectation that its value will appreciate over time. Upon departing from the company, employees are entitled to receive the contents of their ESOP account, representing their share of the accumulated company stock.
Q: Who can participate in the Técnico ESOP?
A: Participation in our ESOP is open to all eligible, full-time Técnico employees.
To become an eligible employee you must complete one year of service (at least 1,000 hours worked during the 12-month period beginning with your date of hire) and be at least 18 years of age.
Q: How much does the ESOP cost to the employee?
A: Nothing! The ESOP is 100% sponsored by the employer.
Q: What if I want to add to my ESOP account? Can I buy shares on my own?
A: No. The ESOP is funded entirely by your employer. We do offer a 401K that you can participate in if you want to save more for retirement.
Q: How can I improve the ESOP value?
A: Employees can improve the ESOP value just like an owner might to their own company: being dedicated to customer success, making improvements in time management, reducing expenses and waste, and making improvements in risk management, to name a few.
Q: How Do ESOPs Stack Up, Generally?
A: Every ESOP is different. Every ESOP operates uniquely. The success of an ESOP significantly relies on the frequency of employee contributions towards enhancing company performance.
Some key numbers about how ESOPs do overall.
- ESOP companies grow faster: The typical ESOP company adds about 2.5% more new jobs per year than it would have if it did not have an ESOP.
- ESOP companies lay off far fewer people: National survey data over the last decade show that people in ESOPs are about a third as likely to be laid off as people not in ESOPs.
- ESOP participants have fatter retirement accounts: It is a startling fact that only about half of all full-time adult workers participate in any kind of company retirement plan. And, for many of those people, most of what is in their plan comes from them, not the company. However, employees in an ESOP get their contributions from the company and generally end up with at least twice as much in their retirement accounts as employees not in an ESOP.
