Stellar Industries, an employee-owned and operated producer of high-quality mechanic vehicles and cranes, tire service vehicles, hooklifts, roll-off cable hoists, trailers and repair truck and van equipment, is now a 100% employee-owned firm.
Stellar established an ESOP (Worker Inventory Possession Plan) in 1991 with staff not too long ago proudly owning roughly 52% of the corporate’s total shares. The transition to 100% employee-ownership won’t influence or change Stellar’s day-to-day operations, and President Dave Zrostlik will proceed with the corporate in his present position.
“Throughout the previous 20 years, our staff have loved many constructive advantages of worker possession,” mentioned Zrostlik. “With an possession mindset, our staff will proceed to work collectively to extend the corporate’s worth. We imagine this variation to 100% ESOP possession will safe Stellar’s success for years to return. That’s good for employee-owners, good for Stellar and good for the communities the place we’re situated.”
In line with the Nationwide Middle for Worker Possession, analysis has repeatedly proven that when worker possession is mixed with a high-achieving tradition, these firms outperform their friends on a number of measures of efficiency. Stellar additionally sees this transfer as a option to entice and retain the most effective staff to be a part of the neighborhood of householders rising the corporate.
“It is a defining second within the historical past of Stellar,” Zrostlik continued. “Our staff have at all times been our biggest asset in our mission to supply gear and improvements that make our clients extra productive.”
Stellar has greater than 700 staff all through a number of places in Iowa, Nebraska, and Pennsylvania. The corporate is at the moment hiring for a number of open positions. To study extra, go to stellar.com.
For a latest Turf Journal article highlighting worker recognition, click on right here.
