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Retooling for Employee Ownership: A Profile of A Few Cool Hardware Stores
October 17, 2022
Economic Opportunities Program
By Yoorie Change and Matt Helmer
The potential of employee ownership to improve job quality, enhance business performance, and help address race and gender wealth gaps is increasingly capturing the interest of policymakers, business leaders, worker advocates, and others across the US. However, lack of familiarity and expertise about employee ownership remains a challenge. We’re pleased to share a profile of a business, A Few Cool Hardware Stores, that recently converted to an employee stock ownership plan (ESOP).
The profile features an interview with founder and CEO, Gina Schaefer, who explains her decision to convert to an ESOP, the process of transitioning to employee ownership, and the challenges and successes she and the new employee owners have encountered along the way. Gina recently published a book, Recovery Hardware, about the business’s journey in helping revitalize neighborhoods and in supporting employees to improve their lives.
Hear directly from Gina about her experience and watch “Ownership at Work: A Discussion on Designing and Growing Employee Ownership.” Gina is joined by Frank Lindsey, a store manager and new employee owner, in a moderated discussion with Alana Semuels from TIME Magazine. The event also features Senator Chris Van Hollen from Maryland and an exciting panel of experts who discuss the benefits of employee ownership, how we can design jobs and workplaces to include ownership, and strategies for supporting the success of growth of this model. Watch now.
About the Economic Opportunities Program
The Aspen Institute Economic Opportunities Program advances strategies, policies, and ideas to help low- and moderate-income people thrive in a changing economy.
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