ReVision chose the ESOP option after a rigorous three-year exploration of various strategies to ensure our long-term economic and environmental sustainability. Becoming an ESOP has advantages for multiple stakeholders across a business: the company's employee-owners, their customers, and future hires. 

1. Ownership Mindset: Members of ESOPs tend to feel a stronger sense of purpose and agency in their work. ReVision co-owners are united not only in our mission but in a shared responsibility and motivation to grow this company we all own.
2. Loud and Clear: Members of ESOPs have a true voice within the decision making process of their company. We make decisions as a community and our business is structured to evolve with the needs of our growing employee-owned team.
3. Wealth for All: ESOPs generally offer greater access to financial and family benefits, and see longer retention rates and employee-owner satisfaction. Research also shows that ESOPs effectively help shrink wealth gaps based on gender and race.
4. Growth in Good & Bad Times: ESOPs see greater growth and profitability, due to higher productivity and longstanding motivation of their employees. They are also more resilient. This rings true for ReVision; we received a 2020 Job Preserver Award for maintaining and growing employment during the COVID-19 pandemic.
5. Highest Customer Satisfaction: Customers of ESOPs enjoy exceptional customer service. The joy and motivation we feel for our co-owned business extends to our customers through our high quality work and continued support. 

How do ESOPs work?

In an ESOP, a trust is established on behalf of the employee-owners. The trust’s primary responsibility is to manage shares of the company on behalf of the employee-owners.

There are different ways that ESOP companies structure the generation and allocation on shares; in ReVision’s case we established a 40-year timeframe and allocate all shares in the company, over time, to the employee owners (hence being 100% employee-owned).

These shares gain value as the company’s value increases, and when the employee-owner leaves the company, the company pays fair market value for their shares. This generates value to the employee (typically this payout is done when an employee retires) and then returns the shares back to the company for future investment in employee-owners.

From its inception, ReVision Energy has been a mission-driven, values-oriented company that built care of employees, clients, the broader community, and the natural environment into the operating system of the company. Becoming an ESOP solidifies our uncommon approach to business, prioritizing sustainable and equitable growth over centralized, aggressive expansion.  

According to the ESOP Association, 84% of companies that convert to ESOP report higher levels of employee motivation and productivity. This overwhelmingly positive effect on the company creates broad-based ownership among all employees and fosters an environment in which everyone understands his or her role in helping the company achieve its triple bottom line. ESOP companies have better benefits, have twice the retirement income for employees, and pay higher wages than non-ESOP companies.

ReVision is part of a growing list of successful and innovative businesses, across industries and sectors, that recognize and capture both the social and the economic rewards of fair practices and commitment to long term sustainability. ReVision is proud to have achieved both 100% ESOP ownership and B-corp certification, positioning itself for a lasting and influential role in New England’s energy future.