JCJ Architecture's Human Resources Director, Donna Zdanis, was recently quoted in Architect Magazine's article discussing the benefits of employee stock ownership plans.
"Beyond being an effective mechanism by which to transfer ownership, ESOPs offer other benefits. Ownership of a firm can make employees feel more responsible for the quality of its work, according to Donna Zdanis, director of human resources at U.S.–wide JCJ Architecture. She says the firm’s ESOP has helped many of its employees to see their work more holistically: “They feel the responsibility to speak up, to understand the project, to understand how much time they have.” Because employees now have a direct stake in the financial success of the business, they are more eager to make projects better.
They are also more attentive to the firm’s value—and to inquire when the stock pile drops. Instead of pointing to the executives in the room, everyone is now responsible for answering the tough questions. Together the firm takes the time to seek better solutions, develop new strategies, and assess the results. “It’s a great time to do some lessons learned,” Zdanis says. “We’re constantly reflecting and learning and improving.”"
Visit architectmagazine.com to read more about Transitioning to an Employee Stock Ownership Plan