{"id":4590,"date":"2023-03-30T09:54:50","date_gmt":"2023-03-30T13:54:50","guid":{"rendered":"https:\/\/lgcassocprod.wpengine.com\/?p=4590"},"modified":"2023-10-30T11:37:27","modified_gmt":"2023-10-30T15:37:27","slug":"lgc-announces-esop-ahead-of-20th","status":"publish","type":"post","link":"https:\/\/lgcassociates.com\/es\/lgc-announces-esop-ahead-of-20th\/","title":{"rendered":"LGC Excited to Announce ESOP Ahead of 20th Anniversary in May"},"content":{"rendered":"<p><span data-contrast=\"auto\">LGC is thrilled to announce the launch of our Employee Stock Ownership Plan (ESOP) ahead of our 20<\/span><span data-contrast=\"auto\">th<\/span><span data-contrast=\"auto\"> anniversary in business this May. <\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><!--more--><\/p>\n<h5>What is an ESOP?<\/h5>\n<p><span data-contrast=\"auto\">For those unfamiliar, an ESOP is a benefit plan where employees own shares in the company, effectively becoming part owners. This qualified plan creates retirement income for eligible LGC employees, allowing them to better plan for their future. <\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">The Employee Stock Ownership Plan went into effect in 2022, with LGC employees effectively owning 30% of the business. The agreement between owners ensured the business received fair value by an independent appraiser. Employees must meet requirements to be eligible for the ESOP which include one year of tenure and a specific number of hours worked in 2022. <\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<blockquote><p><span data-contrast=\"auto\">\u201cWe continue to hear stories from business owners who are struggling with culture and a desire to empower their employees to feel like owners,\u201d says George Lessmeister, LGC CEO. \u201cAs my co-founder Glen and I continued to talk about this challenge, we decided to motivate our employees by giving them a percentage of ownership. <strong>It has strengthened the team across the country as we all work toward the same goals to serve the client and create long-term company and personal financial stability<\/strong>.\u201d\u00a0 <\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p><\/blockquote>\n<p><span data-contrast=\"auto\">ESOP\u2019s come with a variety of <a href=\"https:\/\/www.forvis.com\/article\/2021\/01\/five-advantages-employee-stock-ownership-plans-esops\">benefits<\/a>. They also serve as a (literal and figurative) reminder that employees\u2019 work directly impacts the growth of LGC\u2019s stock. Employee Stock Ownership Plans can also better motivate and retain employees so they can further their investment.<\/span><span data-ccp-props=\"{&quot;134233117&quot;:false,&quot;134233118&quot;:false,&quot;201341983&quot;:0,&quot;335551550&quot;:1,&quot;335551620&quot;:1,&quot;335559685&quot;:0,&quot;335559737&quot;:0,&quot;335559738&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">During the pandemic, we were fortunate to expand into business verticals including retail, warehousing and healthcare. LGC has nearly 200 employees in over 40 cities. In May 2023, LGC celebrates our 20<\/span><span data-contrast=\"auto\">th<\/span><span data-contrast=\"auto\"> anniversary. What better way to honor our team and two decades in the staffing industry than making them employee owners. <\/span><span data-ccp-props=\"{&quot;134233117&quot;:false,&quot;134233118&quot;:false,&quot;201341983&quot;:0,&quot;335551550&quot;:1,&quot;335551620&quot;:1,&quot;335559685&quot;:0,&quot;335559737&quot;:0,&quot;335559738&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<h5><span style=\"text-decoration: underline;\"><a href=\"https:\/\/lgcassociates.com\/es\/our-story\/\"><b>About LGC<\/b><\/a><\/span><\/h5>\n<p><span data-contrast=\"none\">Since 2003 LGC has been building connections between businesses with staffing needs and job seekers looking for new opportunities. Our range of solutions include temporary and permanent placements (and everything in between) in a variety of industries. With offices located nationwide, we can tap into a dynamic pool of talented professionals. We have a passion for creating partnerships that last and work hard every day to ensure both clients and candidates reach their employment goals.<\/span><\/p>","protected":false},"excerpt":{"rendered":"<p>LGC is thrilled to announce the launch of our Employee  [&#8230;]<\/p>\n","protected":false},"author":67,"featured_media":312668,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"content-type":"","footnotes":""},"categories":[109,106],"tags":[650,651],"class_list":["post-4590","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-inside-lgc","category-news","tag-employee-stock-ownership-plan","tag-esop"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.0 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>LGC Excited to Announce ESOP Ahead of 20th Anniversary in May<\/title>\n<meta name=\"description\" content=\"We are proud to announce the launch of our Employee Stock Ownership Plan! 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