Most corporations prioritize the satisfaction of external shareholders, hedge funds, and institutional investors. At The Bernard Group (TBG), we operate differently.

TBG is 100% employee-owned. Our employees are more than just staff; they are the owners, investors, and shareholders of the company. When you choose to partner with us, you are not simply purchasing a product; you are investing in a community-driven business model that values people above “stock symbols.”

Key Takeaways:

  1. An Employee Stock Ownership Plan (ESOP) is a defined contribution retirement plan that primarily invests in the employer’s stock. This type of qualified plan enables employees to gain ownership in the company.
  2. When the person handling your project is a co-owner, the level of care changes. Our team takes immense pride in every detail because they have a direct stake in the company’s reputation and success.
  3. We are big believers in minimizing our environmental impact and maintaining strong Corporate Social Responsibility (CSR). By distributing profits back to our employees rather than external entities, we help bridge the wealth gap and support our local community.

What is an ESOP?

An Employee Stock Ownership Plan (ESOP) is a distinctive business model where a company essentially sells itself to its workforce. Simply put, while the legal and tax specifics are complex, the core idea is that the employees become the company’s greatest assets because they are, quite literally, the owners.

How Does the ESOP Work at The Bernard Group and Smartpress?

We asked Matt Chapman, Vice President of our online division, Smartpress, to explain how this ownership culture functions daily.

“Every employee’s security badge has ‘Co-owner’ under their name and photo. All full-time employees automatically join the ESOP program after their first year of employment and are 100% vested after six years of service. Money is contributed to our accounts every year and dependent on the value of the company. 

“As The Bernard Group grows, the value of our ESOP accounts grows with it. It’s set up as a retirement savings account, so it’s part of our long-term compensation strategy, with a vision to help our employees fund a better life for themselves. What’s great is that, in addition to the ESOP program, we also have a 401(k) and company matching benefit. It’s all part of our total rewards approach.”

How do employees benefit from the ESOP?

“We are all invested in the long-term success of the company, and continued success is returned to the employees with a financial benefit. Every major decision we make considers what’s best for our customers, the company and our employee owners. We find that the best decisions benefit all three stakeholder groups. 

“I believe it also creates a culture of servant leadership from our management team. As a senior leader in our online printing business, I recognize that the teams I manage are also my shareholders. My goal is to help empower teams to make decisions and improvements that they can own themselves, since after all, they’re owners of the company!”

How do customers benefit from purchasing products from an ESOP company?

“Customers absolutely benefit from doing business with an ESOP company. First, they can be assured that employees across the organization take additional pride in their work, and we’re big believers in minimizing the impact of that work on the environment with a strong sense of corporate social responsibility. 

“We think we can make a difference in people’s lives by distributing profits back to our employees, the same people who make our customers happy day in and day out, through high-quality products and online printing services, plus world-class customer service. As a Smartpress customer, please know that you are contributing to something bigger than a corporate entity or a stock symbol. Together, we will make a meaningful difference in our community and the future of our employees and their families.”

What else would you like to share about the ESOP Program?

“After working in public companies, venture-backed organizations and under large private equity holdings, I wish more companies would embrace the ESOP culture and approach. I’m concerned about the growing gap between executive compensation and the average worker’s salary and its contribution to wealth inequality in our country. 

“With an ESOP, I feel that our success is more broadly shared across the company from top to bottom. And while an ESOP isn’t perfect, I’m very happy to be part of a company and culture that cares deeply about its customers, its employees and the broader community in which we serve.”

Work with Co-Owners

Whether you are looking for a high-quality print partner or your next career move, The Bernard Group offers a culture of servant leadership and shared success.