Employee Motivation Best Practices: Sell to an ESOP

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7 Unusual Ways to Motivate Your Employees shares seven employee motivation best practices:

1. Start A 'Mini-CEO' Program

2. Make 'Fun' Part of Your Business Model

3. Give the Company to Your Employees

4. Do Something Crazy

5. Write to Them—By Hand

6. Let Them Rest

7. Mentor Everyone

Of course, I happen to be especially partial to #3 – Give the Company to Your Employees:

Ever think about giving your company to your employees? It’s called an Employee Stock Ownership Program (ESOP) and may be an attractive way to motivate them, since the structure allows direct profits from the company’s success. Foss Miller, founder of Sawbones Worldwide, did it—for Christmas in 2010. "So many of the employees have worked here for many, many years," he told Inc. "Providing them a great retirement when they leave—it just made more sense and felt better and better."

We are in the process of reviewing the many benefits of Selling to an ESOP.