Investing in education and employee-ownership has always been a priority for POS Bio-Sciences, and this commitment continues.
POS Team Equity Growth Corp. (“POS Team Equity”) is a Labor Sponsored Venture Capital Corporation (“LSVCC”) that was created at the time of privatization. It remains the corporate vehicle allowing many employees to pool resources and invest as a group. Today, POS Team Equity has 63 employees invested in the POS Group of Companies. POS Team Equity volunteer board works with management to create additional opportunities for employees to invest in the business, as well as educate employees on the benefits and risks of being an employee-owner.
As part of this commitment to education, management is funding POS Team Equity President and Chairman, Tyler Cates’ trip to the Canadian Employee Share Ownership Program (“ESOP”) conference in July. Held annually, the ESOP conference provides a venue for business leaders from employee-owned companies to network, share experiences and lessons learned, provide education seminars, discuss LSVCC policy (federally and provincially) and discuss opportunities.
The POS Group of Companies leadership and POS Team Equity board value the benefits that come with being an employee-owned company. A recent Google consumer survey conducted by Ownership Alliance suggested that employee ownership is considered, by consumers, to be a positive attribute for a company.
“When asked about what that said about a company using employee ownership, 41% of respondents said that being certified as employee-owned indicates a company provides fair compensation to employees, 29% said it strengthens the local economy, 20% said it places a high priority on customer support, 19% said it cares about social responsibility, and 16% said it provides high quality products and services.”
We wish Tyler a successful trip and encourage anyone with questions about being an employee-owner to contract the POS Team Equity Board of Directors.