Travel and Transport Extends ESOP Benefits to U.K. Employees
Travel and Transport, the world's only employee-owned global travel management company, has announced it will extend its ESOP (Employee Stock Ownership Plan) benefits to U.K. employees.
In the U.K., all Travel and Transport and Radius Travel employees will enjoy the benefits of this profit-sharing model, which include additional retirement benefits and an enhanced sense of ownership and engagement.
“All of our employees must have access to the benefits of our ESOP, first and foremost because it’s the right thing to do,” said Travel and Transport CEO Kevin O’Malley. “Beyond that, including all employees in our shared ownership model makes everyone an employee-owner, which improves engagement and personal investment in the company’s continued success.”
The company’s annual performance directly relates to the value of the yearly retirement contribution that employees receive, instilling a culture of care, consultation and respect for customers that fosters authentic, long-term relationships, rather than short-term quarterly goals.
“By empowering our employees, they have the opportunity to make decisions that positively impact our customers on a daily basis. We want to offer solutions that create value as well as strong, lasting partnerships,” added O’Malley.
As well as the advantages for employees and customers, the ownership model insulates Travel and Transport from an acquisition.
Completely employee-owned, Travel and Transport is on the National Center of Employee Ownership (NCEO)’s list of the top 100 largest majority employee-owned companies.We hope to see you at stand B160 or at one of the many great sessions and events happening through the week. If you’re not able to make it this year, you can still get in on the fun by following the events at insights.travelandtransport.com and on Twitter with live tweets from our team @TandTNews.