Owners at Work

SUMMARY: In this episode of Owners at Work, we welcome back Mark Hand, researcher, educator, and founder of The Stakehold, to discuss the growing momentum behind employee ownership and what the future might hold for the field. We explore the rise of purpose and steward ownership, drawing on Mark's new report, What Is Your Organization For?, co-authored with Tiffany Vargas, which examines how businesses can structure ownership around questions of purpose, power, and financial participation. We also discuss what employee-owned companies can learn from these other ownership models, including approaches to protecting a company's mission and expanding employee participation in decision-making. Along the way, we explore the evolution of The Stakehold, opportunities to connect employee ownership with other movements, and what it will take to translate growing interest into more employee-owned businesses. OTHER RESOURCES: Join Mark Hand and Tiffany Vargas next Friday (yes, the 13th) for thier guidebook launch: https://www.eventbrite.com/e/what-is-your-organisation-for-redesigning-for-purpose-power-and-profit-tickets-2002425775398 GUEST INFO:  ·      LinkedIn: https://www.linkedin.com/in/markchand/  ·      Email: [email protected]  ·      Personal Website: https://markclaytonhand.com/  SUBSCRIBE TO THE STAKEHOLD! https://www.thestakehold.com/  SUPPORT THE SHOW: We make all episodes of Owners at Work free and never place them behind a paywall. But they take time and money to produce. Consider making a DONATION today to help keep our work going.  WE WANT TO HEAR FROM YOU: We are always looking for new employee ownership stories to tell. Please contact us with your story at [email protected] 

SUMMARY In this episode of Owners at Work, we sit down with Liza Shifrin, researcher at the National Center for Employee Ownership (NCEO), to discuss the findings of NCEO's first Recruitment and Retention Survey, which gathered responses from 433 ESOP companies. We explore how ESOP companies are attracting and retaining workers, including findings that suggest employee-owned companies experience substantially lower turnover than their conventional counterparts. We also examine some surprising results, including why employee ownership may be a stronger tool for retaining employees than recruiting them, and which recruitment strategies companies report as most effective. Along the way, we discuss how ESOP companies can better communicate the financial and cultural benefits of employee ownership to prospective and current employees.  JOIN THE OEOC AND LIZA SHIFRIN AT OUR SW OHIO EO FORUM: https://www.oeockent.org/resources-events/sw-ohio-employee-ownership-conference  GUEST INFO:   LinkedIn:  https://www.linkedin.com/in/liza-shifrin-phd-86747746/  Email: [email protected]   Website: https://www.nceo.org/research    OTHER RESOURCES:   NCEO Recruitment & Retention Report: https://www.nceo.org/research/data/retention-and-recruitment-survey   Retirement Savings Crisis and the Role of ESOPs: https://www.nceo.org/research/the-retirement-savings-crisis-and-the-role-of-esops     SUBSCRIBE TO THE STAKEHOLD! https://www.thestakehold.com/    SUPPORT THE PODCAST: We make all episodes of Owners at Work free and never place them behind a paywall. But they take time and money to produce. Consider making a DONATION today to help keep our work going.     WE WANT TO HEAR FROM YOU: We are always looking for new employee ownership stories to tell. Please contact us with your story at [email protected]  

SUMMARY:  In this episode, we sit down with William Foley, a Ph.D. candidate at Rutgers University and fellow at the Institute for the Study of Employee Ownership and Profit Sharing. We explore two of his research projects: one using a first-of-its-kind dataset to uncover what drives worker cooperative members to act and feel like owners, and another mapping the overlap between unions and ESOPs, including how union-member employee owners view management and the training they receive. GUEST INFO:  LinkedIn: www.linkedin.com/in/william-j-foley Email: [email protected] OTHER RESOURCES:  Employee Ownership For Union Workers: Positive Outcomes & Negative Perceptions: https://cleo.rutgers.edu/articles/employee-ownership-for-union-workers-positive-outcomes-negative-perceptions/  An analysis of job quality experiences in worker cooperatives: The effects of ownership, participation, and control.  https://rucore.libraries.rutgers.edu/rutgers-lib/76191/PDF/1/play/  SUBSCRIBE TO THE STAKEHOLD!https://www.thestakehold.com/  SUPPORT THE PODCAST: We make all episodes of Owners at Work free and never place them behind a paywall. But they take time and money to produce. Consider making a DONATION today to help keep our work going. WE WANT TO HEAR FROM YOU: We are always looking for new employee ownership stories to tell. Please contact us with your story at [email protected]

SUMMARY: Drew Larson and Brittany Brown of CoRise Capital join the Owners at Work podcast to break down their new investment fund's innovative approach to employee ownership: acquiring promising companies through traditional purchase deals, then transitioning them to ESOPs within three to five years. The catch? Their investors are exclusively 100% S-corp ESOPs. They explain how they support founders and employees through the transition, what sets their model apart from conventional private equity, and how they plan to engage selling owners, investors, and future employee owners. The conversation also touches on the succession planning crisis facing small business owners nationwide and the role they see CoRise playing to address it.   SUBSCRIBE TO THE STAKEHOLD HERE: https://www.thestakehold.com/  GUEST INFO:   Brittany Brown:  LinkedIn: Brittany Brown | LinkedIn   Email: [email protected]     CoRise LinkedIn : (2) CoRise Capital | Expanding Employee Ownership: Overview | LinkedIn    Drew Larson:  LinkedIn: Drew Larson | LinkedIn  Email: [email protected]    Website: Larson Firm: The Larson Firm — Boutique corporate and M&A law firm    SUPPORT THE SHOW: We make all episodes of Owners at Work free and never place them behind a paywall. But they take time and money to produce. Consider making a DONATION today to help keep our work going.   WE WANT TO HEAR FROM YOU: We are always looking for new employee ownership stories to tell. Please contact us with your story at [email protected]  

SUMMARY: In this episode of Owners at Work, we talk with Michael Darger, an economic development specialist with the University of Minnesota Extension, about business succession planning, ownership transition, and the growing importance of preserving locally owned businesses as Baby Boomer owners retire. Michael discusses the critical role economic developers can play in helping communities retain businesses, support ownership transitions, and build long-term local wealth. We also explore findings from the Minnesota Business Succession and Transition Study, including why many owners delay succession planning despite recognizing its importance, the role of advisory networks in successful transitions, and the barriers that continue to slow employee ownership adoption.   GUEST INFO: LinkedIn: https://www.linkedin.com/in/michaeldarger/ Email: [email protected] Website: https://extension.umn.edu/economic-development/supporting-business-succession-and-transition   OTHER RESOURCES:  Read the 2023 Business Transitions Study: https://z.umn.edu/bstresearch Read other work by Michael and the U of M Extension: https://sites.google.com/a/umn.edu/michaeldarger   SUPPORT THE SHOW: We make all episodes of Owners at Work free and never place them behind a paywall. But they take time and money to produce. Consider making a DONATION today to help keep our work going. WE WANT TO HEAR FROM YOU: We are always looking for new employee ownership stories to tell. Please contact us with your story at [email protected]  

  SUMMARY:   In this episode of Owners at Work, we talk with Mike Brady of 40 Million Owners about how the firm helps ESOP companies grow through strategic, values-aligned acquisitions. Mike explains how their three-phase framework—design, execution, and integration—guides employee-owned firms through M&A while preserving their ownership culture. We discuss how 40 Million Owners fills a key gap for lower middle market ESOPs lacking internal deal expertise, and how its 2025 acquisition by 3LS demonstrates the model in action. Mike also shares lessons from his career at PwC and Greyston Bakery, and how employee ownership can drive lasting wealth and systemic change.  OTHER INFO:   NCEO Study Estimating Number of Employee Owners Due to Acquisitions: https://www.nceo.org/employee-ownership-blog/new-data-on-esop-companies-acquiring-non-esop-companies-1?utm_source=chatgpt.com  Contact Information for Mike Brady  Email: [email protected]  LinkedIn: https://www.linkedin.com/in/bradymichael/  Watch Mike Brady Deliver His TED Talk: https://www.ted.com/talks/mike_brady_and_dion_drew_why_we_hire_unemployable_people SUPPORT THE SHOW: We make all episodes of Owners at Work free and never place them behind a paywall. But they take time and money to produce. Consider making a DONATION today to help keep our work going.   WE WANT TO HEAR FROM YOU: We are always looking for new employee ownership stories to tell. Please contact us with your story at [email protected]  

SUMMARY: In this episode of Owners at Work, we sit down with Zoe Schlag of Common Trust and Mark Hand of the Purpose Trust Ownership Network (PTON) to explore the growing momentum behind Employee Ownership Trusts (EOTs) in the U.S. Zoe shares her journey from early-stage and impact investing to co-founding Common Trust, an organization dedicated to helping mission-driven businesses transition to employee ownership through EOTs. Mark—an academic and advocate for purpose-driven ownership—discusses his research and organizing work around EOTs, including the founding of PTON and his weekly newsletter The Stakeholder. Together, Zoe and Mark break down how EOTs offer a flexible, affordable, and values-aligned pathway to employee ownership—often well-suited for founders who want to preserve mission, reward employees, and avoid traditional exit routes like private equity. We hear examples of successful EOT transitions, from Clegg Auto to Live Oak Living and ACP International, and learn how each deal was tailored to meet the unique goals of its founders and workforce. The episode also previews the first PTON conference (slated for early 2026 in Austin). It highlights how peer learning, trust governance, and long-term stewardship are shaping the future of the EOT movement.    OTHER INFO:  EOT Case Studies  Clegg case study  Text-Em-All story  ACP International  LiveOak Living   About EOTs  ESOP vs. EOT comparison blog   What is an EOT blog  Book chapter co-authored by Mark Hand and Zoe Schlag  2026 EOT Conference  https://trustownership.org/#conference  Websites and Other Resources   Purpose Trust Ownership Network   The Stakehold Newsletter  Common Trust  Consumer Direct Care Network transitions to an EOT  SUPPORT THE SHOW: We make all episodes of Owners at Work free and never place them behind a paywall. But they take time and money to produce. Consider making a DONATION today to help keep our work going.   WE WANT TO HEAR FROM YOU: We are always looking for new employee ownership stories to tell. Please contact us with your story at [email protected]  

SUMMARY: In this episode of Owners at Work, we sit down with Todd Leverette and Kyle Chin-How of Apis & Heritage Capital Partners (A&H)—the 2025 recipient of the John Logue Award in Employee Ownership, which we present annually to organizations making a lasting and transformative impact in the field. A&H is a mission-driven investment firm focused on financing worker buyouts that create 100% employee-owned businesses, particularly for workforces that have been historically excluded from ownership. Todd and Kyle share their personal paths into this work, and how A&H is addressing one of the biggest barriers to employee ownership: the lack of accessible capital for business transitions. We talk about the successful deployment of their first $58 million fund—creating over 450 worker-owners and transferring more than $65 million in enterprise value—and their ambitious goals for Fund II, which has already raised $85 million in its first close. The conversation highlights the emotional weight of their work, lessons from the field, and their long-term vision to help make employee ownership a scalable and mainstream model for succession OTHER INFO: Website: https://www.apisheritage.com/ Staff page: https://www.apisheritage.com/team Video: https://www.youtube.com/watch?v=ITHvJVk2Nls Kyle Chin-How Contact Information: Email: [email protected] Phone: (718) 969‑4852 SUPPORT THE SHOW: We make all episodes of Owners at Work free and never place them behind a paywall. But they take time and money to produce. Consider making a DONATION today to help keep our work going. WE WANT TO HEAR FROM YOU: We are always looking for new employee ownership stories to tell. Please contact us with your story at [email protected] ---------------------------------------------------------------------  

Guests: Danny Massey, Head of Strategy and Communications at Expanding ESOPs SUMMARY: In this episode of the Owners at Work podcast, we speak with Danny from Expanding ESOPs, a new national initiative focused on dramatically scaling employee ownership through policy change and public advocacy. Danny shares his journey from labor journalism and the Fight for $15 campaign to leading this effort to modernize the 51-year-old ESOP framework. We explore why expanding partial ESOPs in large companies could unlock trillions in worker wealth, and how this model can appeal across political lines. Danny also discusses Expanding ESOPs' growing coalition, its core principles, and the powerful role of worker storytelling in building a national movement.   About Expanding ESOPs ·       https://expandingesops.com/ ·       https://www.linkedin.com/company/expanding-esops/ Other Articles ·       https://www.cnbc.com/2025/04/17/better-than401k-companies-workers-long-term-stock-owners.html ·       https://www.bloomberg.com/opinion/features/2025-04-27/room-board-goes-esop-employee-stock-ownership-plans-don-t-have-to-be-rare ·       https://fortune.com/2025/02/26/employee-owned-companies-careers-benefits-esops/?abc123     SUPPORT THE SHOW: We make all episodes of Owners at Work free and never place them behind a paywall. But they take time and money to produce. Consider making a DONATION today to help keep our work going. WE WANT TO HEAR FROM YOU: We are always looking for new employee ownership stories to tell. Please contact us with your story at [email protected] ---------------------------------------------------------------------  

  SUMMARY:   In this episode Chris Cooper sits down with Jim O'Brien founder and current President of Go2Partners, a 100% ESOP Company. We talk about the interesting way in which Go2Partners was founded and funded by the employees themselves, why employee ownership was an attractive choice for him and the founders of the company, and how becoming employee owned impacted the way in which the company was managed and run day-to-day. We also talk about EO-connection a new project that Jim is leading which enables employee-owned companies to connect and purchase goods and services from one another.  Guest INFO (bio): https://www.linkedin.com/in/obpartners/  Further Material (links)  Go2Partners Website: https://www.go2partners.com/  EO-Connection Website: https://www.eo-connection.com/Login     SUPPORT THE SHOW: We make all episodes of Owners at Work free and never place them behind a paywall. But they take time and money to produce. Consider making a DONATION today to help keep our work going.   WE WANT TO HEAR FROM YOU: We are always looking for new employee ownership stories to tell. Please contact us with your story at [email protected]