Employee-Owned Companies Rank HighPosted: Updated:
Three Indiana businesses are ranked among the largest majority employee-owned companies in the country. The list from the California-based National Center for Employee Ownership includes an engine re-manufacturer, a nursing home operator and a graduation keepsake maker. The national list includes:
Herff Jones Inc. - Indianapolis - 7,800
Miller's Health Systems - Warsaw - 3,000
Jasper Engines & Transmissions - Jasper - 1,700
You can view the full roster of businesses by clicking here.
Source: The National Center for Employee Ownership
August 23, 2013
INDIANAPOLIS, Ind. - Herff Jones is now the 17th largest majority employee-owned company in the country, according to the National Center for Employee Ownership’s (NCEO) new Employee Ownership 100 list. To be on the annual list, a company must have a majority of its stock owned by an employee stock ownership plan (ESOP).
Herff Jones is headquartered in Indianapolis, Indiana and is one of the nation’s largest 100 percent employee-owned companies. The company works with school partners to enhance the educational experience of students through products and services including yearbooks, class rings, graduation caps and gowns, graduation announcements and diplomas, maps, globes and classroom instructional materials and programs, cheerleading camps, uniforms and competitions, as well as sporting goods and team uniforms.
Employment at the largest 100 majority employee owned companies has grown steadily over the last several years. This year, it totals more than 673,000. There are currently about 10,900 ESOP companies in the United States who employ 10.3 million people.
Research by the NCEO and many others, shows that employee-owned companies grow significantly faster, have much lower turnover, and are much more financially stable than comparable conventional companies. Moreover, employees at these companies accumulate about two to three times what the typical employee in non-employee ownership companies accumulate over time in their retirement plan. Details on this research, as well as the full Employee Ownership 100 list, can be found on the NCEO website, www.nceo.org. For the list, go to http://www.nceo.org/articles/employee-ownership-100.
Source: Herff Jones Inc.