BACK Construction is 100% Employee Owned… But What Does That Mean?

You may hear companies proudly proclaim they are employee-owned. But there’s always some mystery to that sentence that leaves people wondering… How do employees “own” their company? Does that mean everyone is in charge? How does employee ownership work?

When a company is employee-owned, it means they have an Employee Stock Ownership Program, or ESOP. It’s a rare and beautiful thing to be 100% employee-owned (many companies with an ESOP are only partial), and we’re more than happy to explain how employee ownership works in general, and at BACK Construction. In this article, we’ll answer the commonly asked questions about ESOP and share the true meaning of being a 100% employee-owned company.

What does “employee ownership” mean?

Employee ownership means no single person, family, or third party is a majority shareholder of company stock. An ESOP is a special type of defined contribution plan designed to provide broad based employee ownership. Employees do not legally own stock. Instead, employees are beneficial owners as shares are allocated to participant accounts, which are held in an employee stock ownership trust (ESOT). Management roles for an employee-owned company mirror those of most workplace organizations. However, working for an employee-owned company is a positive experience because employees at all levels of the organization have ownership opportunities. It’s a true team environment.

If everyone is an “owner,” who oversees the company?

Like we mentioned earlier, management roles for an employee-owned company mirror those of most workplace organizations. Each company has its own process for overseeing its ESOP, and its company as a whole. When it comes to BACK Construction, our board of Directors works for our employees (the shareholders). The Board of Directors oversees BACK’s management making sure all activities are to the benefit of the company.

How does an ESOP affect company culture and morale?

When a company is 100% employee-owned, employees have a true stake in the company’s success and feel more inclined to make day-to-day decisions that drive businesses forward. When BACK’s employees take pride in their work, it’s because they have a real investment in the company’s success.

Summary

At BACK Construction, company culture isn’t just a trend or buzzword. We prioritize investing in our biggest assets, our employee-owners. All 60+ employees are encouraged to reach new heights while serving our customers within the Home Improvement industry. All employees at BACK Construction are able to succeed as individuals in a thriving 100% employee-owned culture where collaboration and ownership are two key pillars of BACK Construction’s core values.

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Enjoy Peace of Mind

They removed some hardy board siding that had been exposed to lots of water and was rotten...Took old out, replaced with new, primed, caulked and painted all in one morning. Schon Holman was magnificent. He knew what he was doing, came dressed suiting the quality of work I expected, did a thorough, perfect job, left site immaculate and was professional in his conversation and demeanor. Would definitely use Schon and BACK again.

Deborah B.

Today concludes my home updating experience with Back Construction. It is with gratitude and satisfaction I review Shohn and my kitchen transformation. There were many just in time process changes that needed Shohns' expertise and patient consideration. He approached them through an experienced eye and one by one sought a solution , never an excuse. This is a testimony to.his professionalism and attention to detail. Thanks Back Construction for choosing top quality staff. Thank you Shohn for taking care of me like you would your family.

Christine S.

Back Construction helped turn my rental property from the ugliest house on the street to one of the best-looking by designing and building a super-custom open gable porch roof to replace an outdated awning. The project was complicated by the need to work with multiple residents and me, the owner, but clear communication from start to finish made the process easier. They were conscientious about my budget without cutting corners on the quality, appearance, or service.

Kim P.

I was very pleased with Schon Holman who repaired a faucet incorrectly installed and repaired cabinet damaged by water. Back was quickly responsive to my request and adjusted original estimate when work was done. I would highly recommend Back.

Patricia T.

Highly recommend Back Construction! They screened in part of our deck and built a pergola. The project went smooth from beginning to end. The sales manager and project manager were easy to work with and took everything into consideration. The work crew were very professional, on time and cleaned up daily. Our screened in porch has become our favorite part of the house! We will definitely be using Back Construction again.

Kim B.

I couldn't speak more fondly on my experience with Back Construction. We had the columns on our front porch repaired and we are extremely pleased with the workmanship. Schon Holman and Tom Gebhart were very professional.The Home was built in the 1800s and with the original columns still standing, the team took extra care in the repair and their preservation. They also were able to lift the porch and level out the roof which seemed like quite a task. Im very happy with the outcome. They even gave advice and information on the products they used for future reference. Thank you very much Back Construction. I will be recommending your work to others.

J. Thornbury