Ever wonder why we call our employees, Partners? Well this is why! They own nearly 40% of the company through “Profit Sharing,” known as our Employee Stock Ownership Plan (ESOP), which is funded 100% by the company.
Here’s how it breaks down…Stewart’s Shops made $10.5 million contribution to the ESOP – that’s an increase of $500,000 over the previous year! The company contribution equals approximately 15% of a partners’ pay in 2016. In addition, partners received an additional 15% return on their existing account balance; a combination of substantial stock appreciation and two dividends.
Stewart’s Shops credits its growth to the growing customer demand for easy food and beverage options, as well as the expansion and reinvestment into its shops, and of course – the hard work of our partners. In 2016, the company built 6 new stores, re-built 10 existing locations, as well as completing 20 major remodels. Learn more about that here.
The ESOP contribution is available to anyone working 1,000 hours a year. Their balance should equal about a year’s pay after six years in the plan. ESOP participants are also offered a paid maternity program, discounted YMCA gym and daycare programs, as well as a Make Your Own Scholarship program which provides college scholarships to partners’ dependents.
Check out our careers and benefits here.