EAU CLAIRE (WQOW)- Not everyone can call themselves their own boss, but employees at Realityworks technically can as the company recently became 100% employee owned. The educational products company based in Eau Claire, known for their baby care dolls, switched to ESOP or employee stock ownership plan.
That will not only provide employees with a larger stake in the company, but also an extra retirement plan. A change that CEO Timm Boettcher wishes more companies would follow.
"It helps keep organizations in the communities that they started in," said Boettcher. "It helps make sure that jobs that the companies create stay in the community, and it really builds a healthy structure for the employees that are really building wealth for the company. So it's a great thing."
Studies have shown that this type of ownership improves employee engagement and productivity.