Talley Management Group, Inc. (TMG) proudly announced in December to its team of over 50 staff and growing, that it is now participating in the Employee Stock Ownership Plan (ESOP) model. An employee stock ownership plan is an employee-owner program that provides a company's team with an ownership interest in the company. Through this ESOP, TMG is providing all of its employees with stock ownership, with no cost to its staff.
“When my father and I started Talley Management Group in 1987, we set our Mission and Core Values around what we believed in, building our foundation with our staff and client partners at the center of our decisions,” said President and CEO Gregg H. Talley, FASAE, CAE. “This employee stock ownership plan gives all of our staff a piece of our company-a direct, vested interest to want to see TMG succeed. When employees are valued and respected, it can be seen in the work that they do and the services that they provide. We are investing in our greatest asset; our team.”
According to the National Center for Employee Ownership (NCEO), employee ownership can be accomplished in a variety of ways. Employees can buy stock directly, be given it as a bonus, can receive stock options, or obtain stock through a profit sharing plan. Some employees become owners through worker cooperatives where everyone has an equal vote. The most common form of employee ownership in the US is the employee stock ownership plan.
Talley Management Group, Inc. has offices in NJ and Virginia, with its newest location opening last year in Chicago. TMG has two joint-ventures, bringing the association management company (AMC) model to India with Vraata and to Africa with AFAMCO. Both were launched last year.