An ESOP is an Employee Stock Ownership Plan, an employee benefit governed by The Department of Labor. All employees are included in the plan and receive shares in the company each year at no cost to themselves. The value of those shares increases with the value of the company, and employees are rewarded for their hard work that has helped the company succeed.
According to the National Center for Employee Ownership, ESOP companies demonstrate greater employment stability which, combined with smart investments, leads to ESOP employees having as much as twice the total retirement funds compared to the average non-ESOP employee.