HOME ABOUT PLUMBING HVAC GALLERY CONTACT ESOP 20/20 PLUMBING & HEATING — PROUD TO BE AN EMPLOYEE-OWNED COMPANY An employee stock ownership plan (ESOP) is an employee benefit plan that gives workers ownership interest in a company. 20/20 Plumbing & Heating, Inc. is a thriving 100% employee owned ESOP, where employee ownership drives a culture of uncompromising customer service and self-sustaining profitability. In a 2019 nationwide survey, funded by the Employee Ownership Foundation and conducted by the Institute for the Study of Employee Ownership and Profit Sharing at Rutgers University, 72 percent of respondents said they would prefer to work for a company owned by its employees. The study also found that “turnover at employee-owned companies is three times lower than at conventionally owned businesses.” The exceptional workplace culture at employee-owned companies gives those businesses an edge in attracting and retaining quality employees, especially millennials. The same Rutgers University study reported that “employee-owned companies provide training at a rate 1.3 times that of conventionally owned businesses.” With their consistent investment in employee growth and development, ESOPs ensure that employees not only have the skills to do their jobs well, but also to advance within the organization. Such investment in training is also important to an organization’s long-term stability and succession management strategy. After the last recession, some construction-related ESOPs failed due to poor structure and capitalization. However, Forbes reported that ESOPs are actually “more resilient in difficult economic environments” due, in part, to the “presence of engaged and committed employees.” Many studies show that ESOPs enjoy “higher productivity, lower worker turnover, an abundance of money-saving ideas from the rank-and-file, and less friction between management and workers.” Together, these factors make ESOPs more secure and profitable than similar companies operating with different ownership formats. To the point, a 2010 study by the McDonough School of Business at Georgetown University demonstrated that during the recession year 2008, S-Corporation ESOPs were adding employees and enjoyed double-digit revenue growth, while comparable companies were slashing payroll and experiencing declining sales. OUR ESOP STRATEGY Committed to delivering value to both customers and employees, 20/20 has been strategic in creating an ESOP that ensures a long and healthy company legacy. In contrast with other construction-related ESOPs, 20/20 has done the following: Initiated ESOP based upon careful observation of 50 years of construction cycles Expanded business within its means and without borrowing from a bank Hired an independent trustee who takes a larger role in representing employees’ interests Employed the expertise of both internal and external board members for strategic leadership At 20/20, our employees are its owners, and that pride of ownership sets us apart as one of the region’s premier plumbing and HVAC contractors. CONTACT Riverside, CA 20/20 Plumbing & Heating, Inc 7343 Orangewood Dr. Suite B Riverside, CA 92504 CA Lic # 1001965 Phone: (951) 396-2020 Fax: (951) 396-2021 Los Angeles, CA 20/20 Plumbing & Heating, Inc 5665 Corporate Ave. Suite 200 Cypress, CA 90630 CA Lic # 1001965 Phone: (805) 727-2020 Fax: (805) 727-2021 San Diego, CA 20/20 Plumbing & Heating, Inc 674 Rancheros Dr San Marcos, CA 92069 CA Lic # 1001965 Phone: (760) 535-3101 Fax: (760) 294-6631 Las Vegas, NV 20/20 Plumbing & Heating, Inc 4745 Copper Sage Street Las Vegas, NV 89115 NV Lic # 80032/80030 Phone: (702) 945-2020 Fax: (702) 945-2021 Follow Us: © 20/20 Plumbing and Heating, Inc. TOP