ESOP

The week of June 17, 2024, was a momentous one for 20/20 Plumbing & Heating as we had the honor of hosting two distinguished members of Congress at our facilities. Congressman Mark Takano of California’s 39th district and Congressman Steven Horsford of Nevada’s 4th district visited our Riverside, California, and Las Vegas, Nevada locations respectively. These visits provided a unique opportunity to showcase our devotion to Building Excellence Together, innovation, and employee ownership.

An Inside Look

Both Congressman Takano and Congressman Horsford were given comprehensive tours of our state-of-the-art facilities. They observed firsthand our in-house fabrication and warehouse operations, as well as our advanced design services. These tours emphasized the meticulous attention to detail and the high standards of quality that are the foundation of 20/20 Plumbing & Heating.

The Importance of ESOP Companies

A key focus of these visits was to educate the Congressmen on the significance of Employee Stock Ownership Plan (ESOP) companies. As a 100% employee-owned company, 20/20 Plumbing & Heating demonstrates the positive impact that employee ownership can have on a business. Our proactive approach in modeling our ESOP structure and our efforts to educate employees at all levels emphasizes our belief that people are our most valuable asset.

The Benefits of Employee Ownership

An ESOP is an employee benefit plan that provides workers with ownership interest in the company. This model promotes a culture of ownership, responsibility, and pride among employees. At 20/20 Plumbing & Heating, employee ownership drives a culture of uncompromising customer service and self-sustaining profitability. Our employees are deeply invested in the success of the company, which translates into superior service and dedication to our clients.

A Positive Impact on American Businesses

During their visits, Congressman Takano and Congressman Horsford were informed about the broader benefits of ESOP companies and S Corporations. These business models not only offer substantial incentives to employees but also contribute positively to the American economy. ESOP companies, like ours, often see lower turnover rates and higher employee satisfaction, which are critical factors in long-term business success.

Supporting Data on Employee Ownership

A 2019 nationwide survey funded by the Employee Ownership Foundation and conducted by the Institute for the Study of Employee Ownership and Profit Sharing at Rutgers University found that 72 percent of respondents preferred to work for a company owned by its employees. The study also revealed that turnover at employee-owned companies is three times lower than at conventionally owned businesses. This data highlights the exceptional workplace culture at employee-owned companies, giving them an edge in attracting and retaining quality employees.

Looking Ahead

The visits from Congressman Takano and Congressman Horsford were not just a proud moment for 20/20 Plumbing & Heating but also an affirmation of the positive trajectory we are on. We are committed to continuing our journey of excellence, driven by our dedicated and empowered employee-owners.

As we look to the future, we remain focused on encouraging a workplace culture that values innovation, quality, and employee ownership. We are grateful for the support and recognition from our Congressional leaders and are excited about the continued growth and success of 20/20 Plumbing & Heating.

Thank you to Congressman Mark Takano and Congressman Steven Horsford for taking the time to visit and learn about our company. Your support means a great deal to us and reinforces the importance of employee ownership in building strong, sustainable businesses.