Twenty-five years ago, we bet on ourselves. It took grit, determination, and a massive leap of faith to buy out the company and launch our ESOP. Today, that gamble is our greatest legacy. Here at Normandeau, you are never just an employee clocking in—you are a true owner with a voice, a stake, and a direct hand in our shared future.
Maintaining a healthy ESOP culture takes consistent work, participation, and energy from all our employee owners. So this month, we’re celebrating all the things we love about our ESOP—it’s purpose, structure, and the people driving a positive, collaborative work culture.
So How Does It Work?
Eligible employees are enrolled in the Employee Stock Ownership Plan (ESOP) at no cost to the individual. Typical ESOP company shares are allocated based on employee compensation. However, our shares are uniquely distributed based on compensation (50%) and years of service (50%). Employees become vested over a 5-year period at 20% per year. The ESOP was set up this way in order to build long-term value for employees. And in a world where pensions are few and far between, this structure allows us to offer employees another retirement cushion—in addition to our 401K benefits. (In honor of our 25th anniversary, we’ve started gifting vested employees fancy Normandeau vests…. Get it?)
Our ESOP Advisory Committee (EAC)
The EAC is made up of Normandeau representatives from several different office locations and service groups (preferably with members from each office and service group). Representatives serve terms in 3-year increments, however consecutive terms are permitted. The EAC is organized and governed by four officers—Chair, Vice Chair, Secretary, and Assistant Secretary—all of whom are voted into position by the committee itself.
The mission statement of the EAC is “to create an ownership culture by serving as ESOP advocates, communicating the meaning of owner’s rights, benefits, privileges and responsibilities, and encouraging participation and involvement in the company.” The role of the committee is to facilitate communication and trust among staff and management. The EAC serves as an advisory committee to management, the ESOP Trustees, and ESOP Administrative Committee.
In addition to its formal duties, the EAC hosts numerous events and initiatives throughout the year. Many of these events allow remote participation—bringing together employees from several different departments and locations. The following are some of employees’ favorite annual EAC activities:
ESOP BUCKS!
The EAC rolled out an ESOP bucks program a few years ago to encourage and reward participation in ESOP-sponsored events and activities. Every ESOP member is eligible to earn Bucks, and at the beginning of December the top three ESOP Bucks earners receive a prize. Every Buck also gets converted into a raffle ticket and gets entered into a random drawing resulting in an additional three prize winners. Every ESOP member receives a freebie Buck just for being part of our employee ownership culture; so everyone has a chance to take home a prize! More Bucks get you more chances to win, and there are lots of ways to earn more—like going to events (including virtual events), contributing to the Newsletter or Blog, entering photos in the Calendar Contest, etc.
EMPLOYEE SATISFACTION
Monitoring employee satisfaction is a high priority for the EAC—helping to track the pulse of company culture. One way the EAC does this is through its anonymous suggestion box. This allows employees to ask questions or make suggestions about any aspect of the organization while also protecting their anonymity. Suggestions are reviewed and discussed by the EAC and then the initial “suggestion” along with a recommendation from the EAC are presented to management for final review and comment. All suggestions and final comments from management are available for review by all employees.
Another way the EAC tracks employee satisfaction is through an annual satisfaction survey. In collaboration with HR and our Corporate Social Responsibility (CSR) Committee, the EAC distributes this anonymous survey to all employees. Feedback topics include Career Development, Work Engagement, ESOP Advisory Committee, Relationship Management, Benefits, Work Environment, Safety, Employee Information (this section is optional, but includes questions about office location, years with the company, and demographic information), and a Wrap Up section with space to add additional comments, if needed. Once employees have filled out the survey, it is reviewed by the HR Manager, EAC Chair, and CSR Committee Chair. The information is then sent along to upper management to review and discuss. General feedback and trends are then shared companywide. This data helps inform areas of strength within the company as well as those that need improvement.
ESOP INFORMATIONAL SESSIONS
Year-round, the EAC hosts virtual brown bag informational sessions. These internal zoom meetings focus on an array of different topics—all of which have been suggested by employees! For instance, ESOP has hosted sessions about social media, corporate social responsibility, safety, working lunches with our CEO, presentations from our technical experts, Meet the Candidates sessions to help inform Board of Directors voting, and more. Hosting these informational sessions helps build comradery, share information across different locations and departments, educate non-subject matter experts to better understand our work and mission, and practice and perfect upcoming public presentations.
PHOTO CALENDAR CONTEST
The EAC’s Photo Calendar Contest is without a doubt an employee-favorite annual tradition. Employees from all over the country submit their own original nature photography. Whether they’re out in the field, on vacation, or simply in their own backyards, Normandeau employees continue to submit breathtaking imagery year after year. Each fall, the Photo Calendar Committee reviews all submissions and determines a first, second, and third place winner per office, and then an overall grand-prize winner. Winners receive a monetary prize and the grand-prize winning photo is displayed in the lobby of our Headquarters building.
EMPLOYEE NEWSLETTER
Several times a year, the newsletter committee solicits articles, news updates, photos, writing prompts, etc. from all employees to create an employee newsletter. Articles and photos can be of any topic: recent retirements, vacations, project descriptions, work-related events, new baby (or fur baby) announcements, etc. The newsletter often also features fun facts, committee updates, volunteer efforts, important dates, anniversaries, promotions, and MORE! It’s a one-stop shop for all things Normandeau employee related.
PUMPKIN CARVING CONTEST
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You can’t get a true feel for carved pumpkins without taking an illuminated shot! Three years ago, Normandeau began its annual Pumpkin Carving Contest. The EAC hosts in-person carving days at multiple office locations, but also accepts remote submissions from employees unable to make it to the in-person events. For the contest, each employee has two hours to complete their carvings, evidentiary photographs are submitted to event organizers, and opposing offices judge one another to pick an office winner. The winner from each office receives a $20 Halloween bucket filled with candy. After all offices are judged, an overall winner is chosen by a panel of secret judges and that person receives a $50 Amazon gift card.
ESOP BESOP
ESOP BESOP stands for ESOP Bucks Earning Survey Opportunity Pool. Employees receive several surveys throughout the year to make predictions for upcoming pop-culture events—like which balloon will be featured first in the Thanksgiving Day parade, who will win the annual hot dog eating contest, predicting the winners of entertainment awards, etc. It’s proven to be a fun and easy way to participate in a work-sponsored event. Simply participating automatically grants employees an ESOP Buck. But those folks that get the most predictions correct, earn more Bucks!
At the end of the day, our favorite parts of being an ESOP roll into one simple truth: we are all in this together. Employee ownership fosters a unique workspace where accountability meets celebration, and where every voice matters. We look forward to growing, innovating, and sharing the rewards of our collective hard work for years to come.
