People walk around Harris like they own the place—because they do.
On August 1, 2012, Harris & Associates became a 100% employee-owned stock ownership plan (ESOP), S corporation.
What is an ESOP?
An employee stock ownership plan (ESOP) is a qualified, defined contribution employee benefit plan designed to build long-term wealth for our employee owners. If effect, it is additional money contributed by Harris in addition to salaries.
Why is Harris an ESOP?
Harris is proud to be a 100% ESOP for several reasons:
- to control our own destiny as employee owners,
- to commit a share of Harris' success to its employees,
- multiple studies have found that ESOP participants are more innovative and engaged,
- ESOP participants have been found to almost three times the retirements assets as workers in comparable non-ESOP companies,
- to lay the foundation for a financially sound future, and
- to ensure a successful succession plan for the company.