Last week I had the privilege of attending our annual GESOP (Gibson’s ESOP) meeting. It was a great day (by my definition) spent with all our employee-owners.
We close down all four of our offices to give everyone a chance to attend. That’s a big deal for a firm in the client service business like Gibson. We only do this a few times each year, but it’s always great to see the folks I don’t get a chance to see that much, plus expose our new employees to the Gibson culture. I guess I’m a little old fashioned in feeling a paternalistic pride in what we’re building, our employees, and the lives we’re impacting in so many positive ways. But I digress…..
When we first started exploring and investigating whether the GESOP was the right solution for Gibson, it was back in 2009. I distinctly remember working with our consultant Hugh Reynolds from Crowe. Hugh said that in order to simulate what would be projected to happen with a GESOP, they had to build a very complex model because “we had a lot of moving parts”. [I thought to myself – ‘tell me about it’]
When Hugh was done, he came back to us and said the model predicted significant changes to our employee’s lives over the long haul if they stayed with us. Of course, Gibson had to do its part by performing and delivering on the plan we had provided to Hugh.
Flash forward to 2014 and our meeting last week. Since we put in the GESOP at the end of 2010, we have not only met but exceeded our plan each year.
When Hugh looked at our GESOP this year, he was amazed at what is happening at Gibson. I couldn’t agree more. It helps when you have, without a doubt, the best roster in the game. I love our people: what they do for our clients every day to protect them, the loyalty and pride they show in their company, and their fabulous attitudes and morale through good days - and bad.
And when you have the best roster, you can win. After all, Talent Wins the Game (a Gibson Core Value). In 2013, all our employee-owners won. They sure won Friday when they got their GESOP statements, which more than doubled from the one they saw in 2012.
Gibson’s GESOP: we have a plan; we’re executing the plan, and we’re making a difference in the financial security of our employee’s retirement.
I love it when a plan comes together……
Have you considered an ESOP for your company?
