Esop (Noun)
Meaning
A program under which employees regularly accumulate shares and may ultimately assume control of the company.
Classification
Nouns denoting cognitive processes and contents.
Examples
- The company established an ESOP to reward its long-time employees and provide them with a potential source of retirement income.
- As part of the ESOP, employees received a certain number of shares each year based on their salary and years of service.
- The ESOP was designed to give employees a sense of ownership and motivation, as they would directly benefit from the company's success.
- After 10 years, the ESOP had grown to the point where employees collectively owned a significant percentage of the company's shares.
- The ESOP was seen as a key factor in the company's ability to attract and retain top talent in a competitive industry.