Since 2012, Life’s Abundance has been a 100% employee-owned company. Our purpose is to empower people and their pets to live healthier and happier lives. From the beginning, we have always put people first, and this includes our employees! We believe our team members have a lot to give, so they should benefit from all their hard work and share in our growth and success.
What is ESOP?
Employee Stock Ownership Plan, or ESOP, is a special type of employee benefit plan that allows workers to have shares within the company. How amazing is that? This means employees are stakeholders in the truest sense. That means everyone - from each warehouse team member to customer service to our executives- owns a portion of the company.
The decision to make Life’s Abundance a 100% employee-owned company originated from a discussion regarding exit strategies as the ownerships looked to retirement. Lester and the leadership team made preserving the mission and purpose of the company a priority, which could be hard to maintain during ownership changes. So, Lester proposed an ESOP which everyone, including the company owners, could see would protect the company culture, mission, and team members. It was an all-around great decision that was approved wholeheartedly.
How does it benefit consumers?
When employee owners have a stake in the company, you can feel it! Just call our Customer Care team or speak to anyone within the company, and you’ll realize you aren’t just speaking to just another employee. You’re speaking to an owner! It’s simple - owners make better employees. This ensures that you are receiving top-notch customer service all around from people who really care about serving you in the best way possible. As employee owners, we aim to lead with purpose and grow at a controlled pace. This allows us to put our full heart and attention into new projects that will ultimately make your experience with us unforgettable.
How does it benefit employees?
ESOP benefits all parties involved. Financially, we are better prepared for our future as ESOP is a retirement plan. Since we are vested owners, we are empowered to work more creatively. We find ways to better our performance and grow within the company. In turn, with our hard work and amazing results, the company’s performance improves and increases the value of the stock. It’s a win-win!
Employee ownership is fun!
Employee Ownership Month is celebrated every October, and we were able to have a super exciting ESOP Spirit Week, virtually of course. Each day, we did an activity that was either educational or just plain fun. Here’s a recap of how we celebrate being employee owned:
On Monday, we embraced our employee ownership by taking a photo of ourselves with a sign saying “I’m an employee owner.” Some departments went all out with their signs for added team spirit!
Tuesday, we were placed into random teams for a crossword puzzle competition that tests our knowledge on ESOP. The first team that completed the puzzle and sent it back to Human Resources received a sweet prize.
Wednesday was pajama day! As an employee-owned company, you can both see AND feel the difference in our team. We’re a tight knit group and loved showing up to our company-wide morning meeting dressed from head to toe in our comfiest pajamas, slippers and all.
As employee owners, everyone in the company has different roles and responsibilities, but we all work together in creating something great! That’s why Thursday was named crayon box day and each department was given a color to rock for the day. Even our CEO wore a tie-dye shirt since he brings each and every department together.
On Friday, we stopped by the virtual lunchroom and put our knowledge to the test. We played an ESOP trivia game with, once again, prizes for the winning team!
Employee ownership is fun, profitable and empowering for everyone we touch. It makes a big difference in the way we show up for each other and customers every single day. For Life’s Abundance, all of this energy and passion stems from the purpose we all share - to empower people and pets to live happier, healthier lives. From all of the employee-owners, thank you for your business.