ESOP Train the Trainer in Spanish and English
In order to educate its employees about the value and significance of their ESOP plan, PC Construction hired Praxis to train and support a group of trainers to deliver ESOP educational presentations. PC Construction employs many Spanish speakers, so the company provided a Spanish version of the presentation and included five bilingual speakers in the training. Praxis facilitated the ESOP education and presentation skills training, with some parts of the training and coaching conducted in Spanish.
Number of Employees:
500+
Services Delivered:
- Ownership Culture
- ESOP Communications
Goals of Engagement
- Provide ESOP education and presentation skills training to group of employees in order to develop in-house ESOP training capacity in English and Spanish
- Support the delivery of English and Spanish ESOP presentations by the trainers through on-site coaching and Q&A support
- The ESOP education to the field sites focused on these goals:
• Answer basic questions about how employee-owners receive and vest in ESOP benefits
• Encourage employee-owners to contribute to their 401(k) plan in order to build retirement savings and receive additional matching ESOP contributions.
• Encourage employee-owners to complete basic paperwork: address, beneficiary form
• Motivate positive individual and group behaviors that improve share price
The Result
- Refined English and Spanish ESOP presentations
- Equipped a group of seven employee-owners with the ESOP knowledge and public speaking skills to deliver presentations in Spanish and English
- Generated broad understanding across the company of the ESOP and its value, both financial and cultural
- Generated greater interest in the ESOP, as indicated by greater number of questions to HR about the ESOP
- Incentivized higher 401(k) participation: a few weeks after the presentations, approximately 30 more people began contributing to their 401(k) plans
