Berwyn, Pennsylvania, USA — Advanced Call Center Technologies (ACT) is proud to announce it has become a 100% employee-owned company through the creation of a new ESOP (Employee Stock Ownership Plan).
Employees will now enjoy ownership of this fast-growing company. “There were a lot of people interested in being the new owners of this extraordinarily successful company,” says Christopher Debbas, Chairman of the Board for ACT. “Transitioning to an ESOP company checked all the boxes. It is good for our clients, good for our investors who sold their ownership interests, and it is great for our employees. It creates a new wealth-building opportunity for our dedicated employees who have helped build this business over the years. We are extremely excited about this next phase for ACT and look forward to sharing the rewards of ownership with the new employee owners of ACT.”
An ESOP is a qualified employee retirement plan that holds company stock for the benefit of employees. Eligible U.S.-based employees will earn shares in their individual accounts each year they work at least 1,000 hours and remain employed with ACT. The ESOP benefit is funded entirely by company contributions and requires no out-of-pocket investment by employees. Employee ownership is all part of ACT’s focus on building a great team member culture that translates into top-notch customer experiences.
“With the best interests of our employees and clients in mind, becoming a 100% employee-owned business secures ACT’s future and continues the company’s extraordinary legacy of success,” commented ACT President and CEO Hunter Croft. “Cultivating an employee-owned culture will help us in many ways. We think it will help retain our talented employees, recruit new talent and continue to provide good jobs with opportunities for advancement. The people who make up this company and their contributions are what make ACT great. Each employee at ACT has helped the company earn the trust of some of the top companies in the world. Our company stands here today because of their efforts. This additional benefit is one way to express our gratitude to employees.”
ACT joins around 6,500 businesses with ESOPs in the United States, employing about 14 million employee owners. According to research compiled by the National Center for Employee Ownership (NCEO), ESOP-owned companies tend to outperform others in their industry, retain employees longer in difficult times and provide an overall higher level of retirement benefits than companies that do not have employee ownership.
