An ESOP is an employee benefit plan, which empowers co-workers of a company as stockowners of that company. Moody’s continues to grow the company’s net worth and the result: every member of the Moody’s team benefits by the increased value of Moody’s stock in their retirement accounts.
Moody’s Collision Centers has grown an average of 18.1% a year since the inception of the ESOP in 2003. This growth has occurred during very difficult economic conditions and a shrinking collision repair industry. The vision of the ESOP Association, through co-worker ownership, is to improve American competitiveness due to greater co-worker participation in the workplace. It aims to strengthen the free enterprise economy and create a broader distribution of wealth. Moody’s has been able to maximize human potential by enhancing the self-worth, dignity, and wellbeing of our co-workers.
Moody’s co-workers all have a key to the respective facility they work; no one that works at Moody’s has ever “swiped” a time card or “punched” a clock. We believe and promote co-worker ownership with responsibility to each other.
Every quarter Moody’s holds a meeting at which all co-workers are presented the company’s financial performance as well as 10 other Key Performance Indicators (KPI’s) that range from our Customer Satisfaction results to our Efficiencies and Utilization, etc. Everyone has an opportunity to share his or her suggestions, ideas and feedback. This “open book management” is one of the pillars on which we’ve built our ESOP foundation. We live it, breathe it and promote it.