Power to the people.
100% employee owned and proud of it.
Cornerstone is more than a company; it’s a community built on people.
Our unique employee ownership model fosters a culture where everyone is invested in our shared success. By empowering our team with company shares, we’ve created a dynamic environment where people feel a genuine sense of ownership and purpose. As Founder and Chairman Rick Rodell once said, “If I take care of my employees, they will take care of our customers.”
This people-first philosophy is the cornerstone of our business.
Our employees are our greatest asset.
We believe in recognizing and rewarding hard work. By becoming 100% employee-owned in 2020, we’ve solidified our commitment to our team.
As CFO/COO Pat Nieman explains, “People now understand that their work directly impacts the stock value of our company.”
This ownership mindset has boosted employee engagement and made us an even more attractive employer.
A legacy of loyalty and success.
Some of Cornerstone’s employees have been with the company for close to 30 years. Rick Rodell always emphasized, “It’s the employees who truly make the difference. They’re the ones our customers interact with, and they’re the driving force behind our success.”
Our employee ownership structure is more than just a business model; it’s a testament to our belief in the power of people.
What is an Employee Stock Ownership Plan ?
An employee stock ownership plan (ESOP) is an employee benefit plan that gives workers ownership interest in the company. Being a part of an ESOP can provide unique rewards for employees. Participants in the plan can receive significant retirement benefits at no monetary cost to them.
Being 100 percent employee-owned means that everyone has a vested interest in the success of the company. Every single employee cares about the health and success of the entire company, not just their job or the project they are involved in.
Being an ESOP enhances Cornerstone’s ability to recruit and retain top talent, as most other companies do not offer this benefit as part of their employment package.
Employee Ownership and Corporate Performance Statistics: (Source: NCEO)
According to the National Center for Employee Ownership, there are 6,600 ESOP’s in the country with over 14 million employees sharing ownership in their company.
Rutgers study found ESOP companies grow 2.3-2.4 percent faster after setting up as an ESOP.
NCEO study found ESOP firms that practice participative management grow 8-11 percent faster than they would have without engaging in his type of management style.
Washington study found ESOP participants made 5-12 percent more in wages and had almost three times the retirement assets as did workers in comparable non-ESOP companies.
NCEO ESOP Infographic - How ESOPs Work
Why Did Cornerstone Choose to Be An ESOP? Specific Benefits to Cornerstone & Employees.
1. Supports our culture. We want a company where people work together to serve customers and grow our business. Our goal is to create a positive environment where everyone, no matter what his or her job is, thinks like a business owner.
2. Shares the rewards. Everyone’s efforts serving customers make us successful. While employees receive a paycheck for their hard work, we also want them to share in the long-term rewards of their efforts too. Stock ownership rewards our collective efforts to grow the business in the long run.
3. Provides an additional retirement benefit that most other companies do not offer. Our ESOP is an additional benefit that can be financially substantial for our employees and their family. The ESOP’s value is based on the company’s performance, so the better the company does, the better the employee does.
4. We succeed together. America is a capitalistic country and the highest title someone can achieve under capitalism is to be an owner. Our ESOP plan enables all employees to be owners of Cornerstone Systems, Inc.
“We believe that our employees should share in the success of the company in a truly tangible way. That’s why we created the ESOP, “said Chairman/Founder Rick Rodell. “Participating in the ESOP means that our employees are now owners of the company and benefit financially for a job well done. In this way there is a direct incentive for employees to work hard and take pride in what they do.”
Decades of research show when people understand the ESOP, contribute their ideas, and work together to succeed, ESOP companies outperform other companies.
Cornerstone Becomes 100% ESOP - Press Coverage
Commercial Appeal – Power to the People Article
Cornerstone Systems – Press Release
“Being a 100 percent
employee-owned company is an additional benefit not many other companies can offer.”
