Left Hand Brewing announced today it has established an Employee Stock Ownership Plan (ESOP). Under the Colorado brewery’s employee ownership plan, the brewery will contribute stock to the ESOP trust with each eligible employee receiving an annual allocation. “Our intent is to reward employees and foster an ownership mentality, encouraging team members to contribute to and participate in Left Hand’s long-term success,” Eric Wallace, co-founder and CEO, said in a company press release.
Several other breweries that started about the same time as Left Hand — which first brewed beer in 1993 — have established ESOPs, at least in part to assure the future independence of their companies.
Per the brewery’s vision statement and core values, the ESOP will help to cultivate long-term service, promote responsibility and trust in all relationships and create a sense of pride in the workplace. “It’s not about maximizing immediate financial return. We have a longer view. Money is only a tool to serve our greater mission,” states Wallace said. “Left Hand is about brewing great beer, giving back to our community, and perpetuating a participative employee culture. With the implementation of the ESOP, it is our resolve to keep our vision alive and prosperous.”