T
he Davey Tree Expert Company is the
largest employee-owned service firm
company in the U.S., according to data from
the National Center for Employee
Ownership (NCEO).
The NCEO's 2014 Employee Ownership
100 list includes the nation's largest companies
that are at least 50 percent owned by an
employee stock ownership plan (ESOP) or
other broad-based employee ownership plan.
Davey, which now employs more than 8,000
people, is the seventh-largest firm on the list
that is 100 percent employee-owned and is
the overall 17th largest in the U.S. by total
employees. Davey has been employee owned
since 1979.
"People are our greatest assets," says Karl
Warnke, Davey's chairman, president and
CEO. "We have been committed to employee
ownership for 35 years, and that unwavering
dedication has allowed Davey to grow and
become a stable yet progressive institution."
The companies on the list employ
approximately 710,000 people worldwide, up
from 674,000 in 2013. Companies on both the
2013 and 2014 lists saw their employment rise
approximately 4 percent.
An estimated 11 million people currently
participate in 12,000 ESOPs in the U.S.,
according to the NCEO. ESOP companies
have an estimated $858 billion in stock
participation plan assets.
Research shows ESOP companies that
contribute significantly each year to an
ownership plan, in addition to offering
employees a means to participate in decisions
affecting their jobs and that routinely share
information about the company's financial
performance with their employees, perform
Special: Employee
Ownership 101
20 | September/October 2014
Rob Kunselman (left)
and Jeff Corbin,
United Electric Co-op account
"A Great Nest Egg"
A
s an employee owner, foreman Rob Kunselman feels like he owns the equipment he
uses to complete his job every day. He often tells new employees, "That's my mower,"
when reviewing equipment tasks and functions.
"Employee ownership gives you an extra sense of pride in what you do, and it impacts your
work," he says. In fact, the equipment Kunselman and his crewmembers use on the United
Electric Co-op account makes an incredible impact on production; they often work in harsh,
rugged terrain, but the equipment they use saves thousands of hours of hand cutting.
Although Kunselman says he's an employee owner for a couple reasons, one thing is
for certain: "Employee ownership is a great nest egg," he says. "You can't argue with the
performance of company stock."
Davey Steps Up On
Employee Ownership List
better than firms that do not, according to
the NCEO. Details on this research, as well
as the full Employee Ownership 100, is
available online at www.nceo.org/articles/
employee-ownership-100.
Davey Tree Expert
*
Kent OH ESOP 1979 Tree services 7,800
