Central Oregon grocer offers stock ownership plan to employees.
BY JACOB PALMER | DIGITAL NEWS EDITOR
Central Oregon grocer, Newport Avenue Market in Bend, is now offering a stock ownership plan to its employees.
It has 107 workers.
“We wanted to make sure our employees knew how much we value them,” [CEO Lauren] Johnson said. “It’s really about securing our legacy with our employees and our customers.”
Employee ownership can also help with employee retention. While the specifics are still being ironed out, Newport Avenue Market’s plan will allow employees to have fully vested stock after six years in the program, according to ShanRae Hawkins, principal at Stingray Communications, which represents the grocery store at 1121 NW Newport Ave. Hawkins added that the market’s average employee works at the market for more than 10 years.
(SOURCE: Bend Bulletin)
Some other prominent Oregon businesses that have transferred ownership to its employees include Bob’s Red Mill in Milwaukie and Deschutes Brewery.
RELATED NEWS: Farm in a Box; Grain Food; Bob takes care of his employees
