You may have heard that Murray is an employee-owned or ESOP (Employee Stock Ownership Plan) agency. What, exactly, does that mean if you are a Murray client or prospective client?
Employee ownership empowers employees. By giving employees the autonomy and flexibility to make judgement calls based on the customer’s needs, we streamline processes and increase customer satisfaction. Our employee-owners know their actions affect their customers, and ultimately, the success of our agency, and they take ownership of their decisions. In short, your success is their success.
Preservation of Company Culture
Many of our competitors have been involved in mergers and acquisitions that have distracted their employees, disrupted their culture and had a negative impact on the quality of service delivery. The choice of employee ownership ensures continuity, stability and a client-centric focus.
Employee-owners have a personal and financial stake in the agency. While Murray has historically had a very low employee turnover rate, the ESOP makes employee-owners even more likely to commit to a long-term career with the agency.
Empowered employee-owners are motivated to pursue creative ideas that streamline processes, improve services and reduce costs.
The ESOP structure can result in significant tax savings, allowing those dollars to be re-invested in leading-edge technology and other initiatives that benefit our clients.
Jeffrey S. Gelburd, CPCU, ARM, Vice President, is the program administrator for the ESOP Executive Liability Program.
Share this Post