VGM Group, Waterloo, Iowa, has been named 2014 Iowa-Nebraska Chapter ESOP [employee stock ownership plan] Company of the Year. The award will be presented May 7 at the ESOP Association Annual Conference in Washington DC. VGM Group became a 100 percent employee-owned company in June 2008.
To be considered for the honor, a company must be committed to employee ownership as shown by:
- Involvement with the ESOP Association and its programs.
- Communication with employees.
- Commitment to the vision of the ESOP Association, which endorses employee participation, wealth creation, and individual dignity and worth.
- The company must be financially solvent and have several years of ESOP experience.