Exit Is Now - Plan Accordingly With Scott Snider The Ownership Mindset: A Conversation on ESOPs with Kerry Siggins
Jan 18, 2024
Kerry Siggins, CEO of StoneAge and author of The Ownership Mindset, shares her journey of transforming her company into an ESOP, focusing on employee ownership and culture. She discusses the challenges of scaling while maintaining a strong company culture and the importance of trust in leadership. Kerry reflects on her personal growth, overcoming struggles, and the impact of ESOP on employee retention and profitability. She also reveals her motivations for writing her book and balancing her ambitious goals with family life.
AI Snips
Chapters
Books
Transcript
Episode notes
Fast-Tracked Into Leadership
- John promoted Kerry faster than planned and gave her autonomy to learn.
- The board later elevated her to CEO after seeing measurable growth under her leadership.
Early Ownership Seeded ESOP Success
- StoneAge had a homegrown employee stock program long before the ESOP conversion.
- That early 'skin in the game' culture made broad employee ownership a natural next step.
Test Ownership With Profit Sharing
- If you want to test employee ownership, start with a profit-sharing program first.
- Use profit sharing to teach employees to care about company performance before formalizing ownership.
