AN EMPLOYEE OWNED COMPANY
Employee Stock Ownership Plan (ESOP)
Since 1958, Avalon Flooring has been run considering the values of culture and community, established by our founder, Mr. Millar. In an effort to maintain these values for decades to come, Avalon became a 100% employee-owned company in 2018. More than just a benefit for employees, our ESOP was designed as a way to share the success and ownership of the company with employees.
What is an ESOP?
An ESOP, or Employee Stock Ownership Plan, allows associates to share directly in the growth of the company. A company-owned trust fund is established, and shares in the trust are allocated to individual employee accounts. ESOPs are proven motivators for building unity and fostering team spirit, and on the average, ESOP companies are more productive and more profitable.
How does it work?
Employees who meet all eligibility requirements* are given access to company stocks at no additional cost to them.
So wait, you own the place?
Yes, we really do. Since 2018, Avalon has been run as a 100% employee-owned company, becoming one of less than 6,500 businesses with an ESOP in the United States. Together, we create the success of the company - and over 46% of our employees have worked here for 15+ years.
*Eligibility requirements are listed and updated in Avalon Flooring’s Employee Handbook
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