Shepard Exposition Services Give Employees a Chance at Piece of the Company's Pie
February 23, 2012
General service contractor Shepard Exposition Services has changed its ownership structure and now allows qualified employees to take part in an Employee Stock Ownership Plan, known as an ESOP.
In order to qualify, employees need to be full-time or part-time, working a minimum of 1.000 hours per year.
Shepard has 438 qualified employees and offices that operate in 10 markets across the United States.
By giving employees an opportunity to be a part of the ownership of the company, it leads to improved service, increases in revenue and company stability, according to Shepard officials.
“It has been a goal of our strategic plan to establish Shepard as an ESOP company,” said Owner Carl Mitchell.
He added, “It has been a personal goal of mine, too, and I feel a great sense of accomplishment. Thanks to the focused contributions of our terrific team here at Shepard, who collaborate each and every day to enhance our customers’ goals and ensure their success, our vision is now a reality.”
Mitchell will retain a majority ownership, while allocating a sizeable portion of company shares for employee ownership.
“In most well-managed ESOPs, employees have a greater voice and feel respected. Companies tend to yield more profits, provide better customer service and generate higher sales which ultimately maximize human potential and strengthen free enterprise,” according to research conducted by the ESOP Association.
Mitchell added, “Shepard anticipates positive changes across the board under the new ESOP structure. We are looking forward to continued success thanks to this development which will help us achieve many additional goals going forward.”
Founded in Atlanta in 1905, Shepard is known for its Customer Concierge Program, the Customer Order Matrix and other customer-focused innovations, according to company officials.
Partner Voices
MGM Resorts is committed to fostering an inclusive and diverse culture, not just among employees and guests but also within its supply chain. The company prioritizes procuring goods and services from businesses owned by minorities, women, veterans, people with disabilities, LGBTQ individuals and those facing economic disadvantages. This commitment is integral to MGM Resorts' global procurement strategy.
Through its voluntary supplier diversity program, MGM Resorts actively identifies and connects certified diverse-owned suppliers to opportunities within its supply chain. The company is on track to spend at least 15% of its biddable procurement with diverse-owned businesses by 2025, demonstrating that supplier diversity is not only a social responsibility but also a strategic business imperative.
Supplier diversity isn’t just the right thing to do – it’s good for business. A diverse supply chain allows access to a broader range of perspectives and experience, helping to drive innovation, entrepreneurship and resilience, while strengthening communities. At MGM Resorts, engaging diverse suppliers ensures best-in-class experiences for guests and clients. Supplier diversity ensures a more resilient supply chain while supporting economic development in the communities in which it operates.
The impact of MGM Resorts' supplier diversity initiatives is significant. In 2023, these efforts supported over 3,500 jobs across more than 30 states, contributed over $214 million in income for diverse-owned businesses and generated more than $62 million in tax revenue. The story extends beyond the numbers – it reflects the tangible benefits brought to small and diverse-owned businesses, fostering economic empowerment in their communities.
MGM Resorts also supports the development and business skills of diverse-owned businesses through investment, mentorship and education. Through the MGM Resorts Supplier Diversity Mentorship Program, the company identifies, mentors and develops diverse-owned businesses to fill its future pipeline, while providing businesses with tools and resources to empower and uplift. Since 2017, the program has successfully graduated 105 diverse-owned businesses and is on track to achieve its goal of 150 graduates by 2025.
MGM Resorts’ commitment to supplier diversity not only enhances its business operations but also plays a crucial role in uplifting communities and fostering economic development. This approach reinforces the idea that diversity is a powerful driver of innovation and resilience, benefiting both the company and the wider community.
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