ESOP Training

ESOP training can be taken online.

Employee stock ownership (ESOP) training covers the ins and outs of what ESOP is, how to manage it, its benefits and considerations, as well as unique circumstances, such as S corporation ESOPs. Training can be in the form of traditional in-class sessions with an instructor, or it can be done entirely online. ESOPs are complex and complicated. Taking ESOP training from a national organization or university-sponsored training program is a way to get ESOP training for your business.

Identification

ESOP is a way for employees to share ownership of the companies they work for. ESOP training is a way for owners, managers and employees to learn how ESOP operates, its benefits and how to get the most out of it. There are a number of different training options available.

Types

Types of ESOP training includes webinars (which can be hosted by live trainers or can be pre-recorded seminars and are held over the Internet), in-class training sessions, and online courses that can be taken according to your pace and time.

Providers

Training can be provided by a number of organizations, such as the National Center for Employee Ownership, which is a nonprofit organization that provides information on ESOPs, and the ESOP Association. Universities and community colleges, such as Kent State University in Ohio, may also offer ESOP training either in classroom settings or as online courses.

Topics

Topics can include employee rights and responsibilities, rules regarding participation and the responsibility of the company, employee-business relationships and communication, studying successful ESOP models, developing leadership, and information and background on ESOP.

Considerations

ESOP training is done differently by each provider, and each provider may have multiple options for training. Depending on your company's familiarity with technology and prior knowledge of ESOPs, some aspects of ESOP training will need to be enhanced, while others can be minimized. For example, employees that are not comfortable with computer-based training may not benefit from webinars or online courses. There may be factors that need to be considered, such as cost, time, management style and corporate culture, that will affect ESOP training.

References

• National Center for Employee Ownership: ESOP Fundamentals
• ESOP Association: Employee Ownership in the United States
• Ohio Employee Ownership Center: Employee Ownership Training & Development