Woodruff Sawyer's ESOP leads to tremendous client success.

A blanket statement that companies with Employee Stock Ownership Plans (ESOPs) universally have the best client success isn't something I can prove with data. Anecdotally, it is another matter. I have two experiences working at ESOP firms, and the client success is far superior when that ownership structure is in place. I have been at Woodruff Sawyer for just over thirty days, and from what I have seen, our ESOP contributes to a positive work culture and employee engagement, which, in turn, positively impacts our client success and relations in the following ways:

1. Employee Ownership and Motivation:?All employees have a stake in our company's success through stock ownership. They have a stronger sense of ownership of each client, even if it is their colleague's client. There is no competition on who does what work. They only focus on collaboration. That mentality is across all positions, producers and account managers alike. We are all motivated to help each other succeed. These are examples of how we are a more dedicated and engaged workforce, crucial to providing the best client success.
2. Alignment of Interests:?Our ESOP is designed to align the interests of our employees with our firm and clients. Employees understand that the firm's success directly impacts their stock's value, encouraging them to work towards the company's overall success. We only succeed as a firm when our clients succeed.?
3. Reduced Turnover:?Our ESOP and company culture minimize turnover. Our average tenure is ten-plus years across all positions. Lower turnover results in consistency in our service timelines and client success.
4. Long-Term Perspective:?Client success in the insurance industry is driven by long-term relationships. Due to the tenure of the average employee, our company culture, and our understanding of what constitutes success, our employees take a long-term perspective in everything they do. Everyone understands what an ideal client for us is. Everyone understands how important it is to tell a client not to cut critical coverage to save premiums. We do things in a way that benefits our clients long-term, which helps our firm long-term.?
5. Transparency:?Due to our ownership structure, we have several owners/partners at our firm. Regardless of owner or partner status, we share exactly where we are with our financials firm-wide. We look at every employee as our firm's current or future partner.?
6. Employee Training and Development:?As everyone is a current or future partner, we invest in our development and success. We offer and encourage our employees to partake in independent coaching, both in professional and personal development. We all want each of us to be our best for our firm and clients.?

It's important to note that the effectiveness of our ESOP is also the result of our firm's extraordinary leadership and effort in company culture. An ESOP is most successful when used to commit to the employees' and clients' success. It's what we have accomplished here at Woodruff-Sawyer, and I know I have made the right decision to come aboard this great firm of ours.?

Sarmad Naqvi, CLCS

510-590-0635

[email protected]