It’s easy to get lost in the day-to-day routines and the nuts and bolts of completing tasks and assignments. But when you step back and look at the big picture, it’s a good feeling knowing that our work really matters to our clients.
Esther Ivory, CSR Project Manager
CSR is a 100-percent employee-owned company.
What does that mean?
All company stock shares are held by the CSR Employee Stock Ownership Plan (ESOP) The CSR ESOP is a qualified retirement plan as defined by 495(3)(7) of IRS Codes. CSR makes annual contributions to the ESOP and covers all administrative costs. ESOPs are regulated by the Employee Retirement Income Security Act, a Federal law that defines the minimal standards for investment plans in private industry. Employees receive shares based on their tenure with the company and their annual compensation.
How is this beneficial?
ESOPs transform employees from hired hands to employee-owners. CSR employee-owners have a vested interest in meeting the needs of our clients. It is through the success of our clients and partners that we grow.
Factoids on ESOPs:
- In 1975, there were roughly 250,000 participants in about 1,500 ESOPs, compared with 2013, when there were 10,578,114 active participants in 6,795 ESOPs. (Source: Department of Labor)
- In a 2014 General Social Survey performed by the National Opinion Research Center of the University of Chicago, almost 20 percent (32 million Americans) of the private-sector workforce reported owning stock or stock options derived from ESOPs, stock purchase plans, and 401(k) plans. (Source: Department of Labor)