Albion is Now 100% Employee-Owned
Albion General Contractors is incredibly proud to announce that we are now a 100% employee-owned company via an Employee Stock Ownership Plan (ESOP)! As an ESOP-owned company, all Albion shares are now held in trust by the ESOP exclusively for our employees’ benefit.
“For 18 years, I’ve told my employees that there will come a day where I won’t be here anymore, and they will run this company. I’m not sure if they realized how serious I was about that,” says Brian Newsome, our co-founder and Executive Vice President. “To me, this is the smartest way to keep the company thriving and to recognize the incredible people who work here.”
According to the nonprofit National Center for Employee Ownership (NCEO), extensive research shows that ESOP companies outperform non-ESOP companies by a wide margin. They grow around 2.5% faster in productivity, sales, and employment per year, provide twice the total retirement assets, and provide greater job stability than non-ESOP companies.
According to Brian, our culture here at Albion is precisely suited for an ESOP. “We are very much family. There’s no micromanagement here. We allow our employees to create magic in whatever way they can. There’s a sense of trust, and therefore we’ve been incredibly successful.”
Brian also attributes the success and growth of Albion entirely to our employees. “We create raving fans here. If you truly embody the concept of creating a raving fan, it changes your thought process and how you deal with people. We’ve created a culture of giving the greatest experience for our clients.”
The news was officially unveiled during a special ceremony to commemorate the historic occasion and was met with great enthusiasm. The day before the announcement, Brian says, “We felt like parents on Christmas Eve. It’s just a beautiful way to reward the people who are doing the hard work every single day. The reality is that our employees are out there every day, making our clients raving fans, and they need to be rewarded. Albion really is a special place to be—the people we’ve attracted, the culture we guard. We’re a careful and thoughtful company. As a rising star in our industry, we’re looking to create a shine.”