Alpine’s Employee Stock Ownership Plan (ESOP) provides fair and broad-based employee participation in the benefits of company ownership. As a result, every employee has a vested interest and stake in the work we, individually and as a company, provide to you, our client. It also means that our shared goal of establishing, sustaining, and promoting long-term successful relationships with each other and with our clients, is of extreme importance.
An ESOP is a qualified, defined contribution employee benefit plan that invests primarily in the stock of the employer company. Alpine’s ESOP does not require (or even allow) employees to invest their own money into company stock. Rather, the ESOP is funded entirely by company contributions. Alpine’s ESOP was created in 2012. At that time, it owned 49% of the company. As of December 31, 2017, we became 100% ESOP-owned.
What are employees saying about the ESOP?
“When Alpine became an ESOP, I like to think it did not change my work ethic because I have always tried to do good work. However, the added benefit of company ownership has given me increased employee satisfaction and appreciation for Alpine and all who have sacrificed to make the ESOP a reality. It is also rewarding to work with ESOP colleagues who are committed and positively aimed at producing quality deliverables and solutions ongoing that meet high standards for our clients and uphold Alpine’s good name. The monetary benefits we as individual contributors will receive when we leave the company and sell our shares, due to retirement or other reasons, is a very valuable benefit for which I am grateful!”
“On a personal level, the ESOP provides an additional investment stream into my future retirement. Knowing that every efficiency Alpine makes and every opportunity we successfully complete improves the bottom line (and my future retirement goals) is very motivating. On the company level, I think Alpine is more transparent to team members regarding our financial situation and how revenue shifts impact our resource and goal planning. Because the financial success of the company directly impacts each of us, this transparency provides each of us a view of our immediate impact on profitability.”
“When I was interviewing with Alpine, I learned that one of the perks at working here was ESOP. One of my personal goals has always been to be a part of an organization where employees are in charge of their own destiny. I have worked in a variety of industries and types of companies. From those experiences I’ve found out that although being satisfied with daily work and enjoying supportive peers is important, nothing can be quite as satisfying as owning “the piece of the pie”. Alpine ESOP has been one of the major deciding factors in my joining the company.”
I wanted to join the ESOP committee so I could learn more about how an ESOP functioned, and to give back to Alpine. I learned so much about ESOPs during my three years on the committee. It is a great comfort to have an additional source to fund my retirements, and it’s pretty remarkable that when employees work hard and participate in ownership thinking, those financial benefits end up in our own pockets, rather than just some nameless, faceless group of owners. Employee ownership permeates the culture at Alpine, which makes it a really unique place to work!