Greatland has been built through teamwork and a desire on the part of those working here to make this organization a leading provider of simple solutions to complicated business processes. We strive to attract, develop and retain talented employees who are committed to doing their best with utmost integrity. Our Employee Stock Ownership Plan and annual profit sharing bonus emphasize and reward the contributions of the talented and dedicated people who are the driving force behind all that Greatland is and will be.
What is an ESOP
An Employee Stock Ownership Plan (“ESOP”) is an employee benefit structured as a qualified retirement plan that provides employees with an ownership interest in the Company, in the form of company stock. Employees do not purchase stock from the ESOP: it is “gifted” to them as the Company makes contributions to the ESOP to release shares from the trust.
Why an ESOP?
ESOPs can provide significant benefits to employees and the company.
For employees, the ESOP provides a meaningful and personal equity stake in the success and growth of the company. This can translate into significant monetary benefits at retirement.
For the company, the ESOP reinforces a strong corporate culture and enhances employee engagement. Further, it can be a source of important tax benefits that enhance cash flow and drive future growth.
Being an employee-owner is an investment in my future retirement. It is the pride of ownership and accomplishment that motivates me to do the best job I can.
–Evelyn, Fulfillment, 28 years
Being an employee-owner means two basic things to me -- responsibility and benefits. Our creed, wisely carried over from before we became employee-owned, lays out our responsibilities -- have a servant attitude toward customers and fellow employees, develop God-given talents in others, provide necessary work, be true to your word, and be accountable. I have a stronger sense of responsibility to our customers, knowing that the intrinsic value of happy customers also results in financial and affective benefits to myself and fellow employee-owners. Examples of affective benefits are: feeling good because you served someone by finding the right product for them, which I consider a God-given feeling because humans are relational beings; feeling satisfaction because you were true to your word when meeting a deadline, or even feeling relief for apologizing honestly if you failed, and then feeling a resolve to succeed next time; feeling fulfilled that (even though providing tax form solutions does not rank up there with heart surgery) you have made life better for thousands of customers and contributed a little piece to our country’s economy. Having been here for twenty years, I’ve seen the overwhelming majority of employees following the principles of our creed, both before and after we became employee-owned. It seems most employees at Greatland would maintain those principles regardless of the benefits -- so that makes the financial benefits seem like a bonus, or blessing if you use that term. The financial benefit of seeing our stock value continue to increase has been amazing and gratifying to me. The dollar value of my Employee Stock Option Plan has become a significant financial piece of my retirement plan along with our 401k. Follow the creed responsibly, enjoy the benefits.
–Tom, Product Development, 20 years
I have a hand in the success of Greatland! My hard work has a purpose and its rewarded.