In 2017, NMR became employee-owned through an Employee Stock Ownership Plan (ESOP).
Employee ownership is a unique form of company ownership in which all eligible employees own a portion of the company in the form of stock. In an ESOP, the company sets up a trust that purchases the company then distributes the shares to employees over time.
According to a 2018 survey by the NCEO, employees participating in ESOPs have more than twice the total retirement balance of the average American. This builds wealth, promotes happiness and employee retention, and increases productivity.
In October 2024, we chatted with founder and President Emeritus Lynn Hoefgen, Ruth Harvey, current President Tom Mauldin, and others to tell the story of how NMR was founded and laid the groundwork to become an ESOP in 2017. Read the two-part story here and here, and check out the video interview with Lynn and Ruth below:
Click here to read more about how employee ownership matches our values-driven work. You can find more information on employee ownership and resources for your employee-owned company here and here.
Read what our employee-owners think about the NMR ESOP below:
Employee ownership means that I am responsible for defining the culture of my company.
Jared Powell
Employee ownership means we take actions that benefit both the company and the people who work for it.
Lisa Wilson-Wright
Employee ownership means knowing that I work for a company that cares about me, which makes it a lot easier for me to care about the people and company I work for.
Kailey Pratt
Employee ownership means that I am a stakeholder in the company.
David Bautista
Employee ownership means that we all have a stake in NMR’s success, and that everyone can play an active part in shaping its future.
Joanne O’Donnell
Employee ownership means working with more engaged, motivated, and satisfied colleagues.