Download PDFOpen PDF in browserAttracting and Retaining Talent Through Employee Ownership : A Study of ESOP Ownership9 pages•Published: May 26, 2024AbstractResearch has begun to study ways for the construction industry to win the war on the global labor shortage, it has become more of a challenge to attract and retain talented employees. The labor shortage makes it difficult to match positions with candidates in the first place, but keeping the talent you already have is an equally pressing matter. Together, these factors paint a challenging picture of the road ahead for the industry. To attract and retain talent, some construction companies are transforming themselves into a place where people want to work and stick around. Employee ownership is one business strategy companies have found to help attract and retain long term employment. The initial idea was designed to increase wealth after retirement and develop a culture that allows employees the opportunity to be active and engage in company strategies. The focus of this paper will show how successful Employee Stock Ownership Plans (ESOPs) impact employee retention, productivity, and engagement in becoming the employers of choice. The research shows how a positive employee attitude towards ownership will lead into a long career in construction, all the way to retirement.Keyphrases: Engagement, Ownership, Retention In: Tom Leathem, Wesley Collins and Anthony J. Perrenoud (editors). Proceedings of 60th Annual Associated Schools of Construction International Conference, vol 5, pages 795--803
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