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In this very competitive corporate world, one of the best benefits that a valuable employee could receive is an ESOP, or Employee Stock Ownership Plan. Have you heard about ESOPs? Corporate Finance Institute defines it as "An Employee Stock Ownership Plan (ESOP) refers to an employee benefit plan that gives the employees an ownership stake in the company. The employer allocates a certain percentage of the company’s stock shares to each eligible employee at no upfront cost. The distribution of shares may be based on the employee’s pay scale, terms of service, or some other basis of allocation." My wife and I were discussing this months ago, as her employer offers this program to her. I mentioned that I was expecting such a program from the companies I've worked with, but none of them did and did not offer ESOPs to any of their management. I told her that her company is "something to keep for the long term." ESOPs are one of the best benefits that a company could offer to its valuable staff, and this practice can be applied here as well in Papua New Guinea. If you want to read more about ESOPs, please visit this link: https://lnkd.in/gay9KGXr
Ishmael Hinae
6mo
Benefits like this will not only be an incentive to attract and hold onto employees but it will also give the employees a sense of ownership of the company or organization they are working for.
Cletus Koigin
6mo
One of the local company has mentioned to its employees about ESOP . Once they finish with the company they go out with three things: 1: Work reference 2: Nusfund 3: Share certificate The very promising is Share Certificate from the company .
I make organic social media content for small businesses & run their ADs
6moWow this just answered my question from a day ago. I was contemplating while listening to a podcast and driving the other day how if you had a business still in it’s start up days, how would you motivate your key team members to work as hard as you In the first place? It would be ludicrous to do so because at the end of the day it’s not their business and they do not share the same vision you have. But with a ESOP, this could definitely reward them in their hard efforts to getting the company to where it needs to be with a small incentive making it more meaningful for both parties.