X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.
If a strong culture is already in place, ESOP gives every employee the freedom to use the program to their advantage and enact company-wide change. (Photo: Shutterstock) If a strong culture is already in place, ESOP enables every employee to enact company-wide change. (Photo: Shutterstock)

While the insurance industry has undergone significant consolidation in recent years, Graham Company has defied the trend by becoming 100% employee-owned. Rather than taking a substantial buyout offer in 2017, CEO Bill Graham chose to convert Graham to an Employee Stock Ownership Plan (ESOP), which holds all company stock in a trust and provides it to employees as part of their retirement.

As Graham celebrates 60 years in business, the ESOP ensures loyal and dedicated employees are taken care of financially and that the business will continue to thrive under the same values that have served employees and clients so well. Beyond retirement benefits, I believe this move strengthened our company’s culture, created a sense of ownership among employees, and allowed us to make our business the best it can be for our clients.

Want to continue reading?
Become a Free
PropertyCasualty360 Digital Reader.

INCLUDED IN A DIGITAL MEMBERSHIP:

  • All PropertyCasualty360.com news coverage, best practices, and in-depth analysis.
  • Educational webcasts, resources from industry leaders, and informative newsletters.
  • Other award-winning websites including BenefitsPRO.com and ThinkAdvisor.com.

Already have an account?

 

PropertyCasualty360

Join PropertyCasualty360

Don’t miss crucial news and insights you need to make informed decisions for your P&C insurance business. Join PropertyCasualty360.com now!

  • Unlimited access to PropertyCasualty360.com - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including BenefitsPRO.com, ThinkAdvisor.com and Law.com
  • Exclusive discounts on PropertyCasualty360, National Underwriter, Claims and ALM events

Already have an account? Sign In Now
Join PropertyCasualty360

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.