Korellis Celebrates National Employee Ownership Month and Strong Organizational Culture – NWILife

October is a special time of year for Korellis, as it marks National Employee Ownership Month. An ESOP, or Employee Stock Ownership Plan, is a system in which a company’s employees own the business and receive significant retirement benefits. Korellis, 100% employee-owned through an ESOP, is taking the opportunity to celebrate the cultural, financial and productive benefits the structure has brought to the team since it was set up in 2018 as part of a plan succession of the original family ownership of the business.

“When Pete Korellis was weighing his options, he knew he didn’t want to sell to a stranger or liquidate the business and close,” said Kali Werkowski, office and human resources manager. “ESOP provides us with the opportunity to build on the foundations created by our founders, George and Harriet Korellis, while allowing us to invest in ways to continue to develop and grow the business. Korellis is very focused on advancement, both organizationally and for individual employees. »

The day-to-day maintenance and coordination of the ESOP is handled by its Communications Committee which plays an important role in shaping Korellis’ office culture. Among their daily tasks, they also organize things such as fundraisers and volunteer days.

“For me, that’s always been the mindset at Korellis,” said Tony Sagrati, Business Estimator and ESOP Communications Committee Member. “One of the best things about working here is that everyone is always ready to help if needed. There are a lot of close personal relationships here – people care about each other.

Stock ownership and the resulting monetary benefits often make the headlines when ESOPs are discussed at other companies, but for many at Korellis, this is secondary to the cultural benefits.

“It comes down to us being a team,” said Haley Sparling, comptroller and committee member. “We see the financial benefits now because we are working together and will continue in the future.”

The ESOP also sees returns in the production and quality of Korellis’ work, in part due to the levels of motivation and dedication that a stake in ownership inspires.

“When you feel like you’re part of something, you care,” said mechanic and committee member Brian Sheeman. “You take it personally when things are good or bad. You have employee dedication; we retain employees and these employees help new employees acquire the knowledge necessary to succeed.

Werkowski noted that ESOP benefits are directly related to their interview process and the quality of their hires.

“There are so many opportunities here, from administrators to accounting to estimating and project management,” she said. “You can do these jobs for any business, but what makes them unique to Korellis is that our people don’t just work here – they own some of it. When we review applicants, we explain the potential for substantial wealth accumulation throughout their careers here. It can be a game changer when we have people researching their next move and how it aligns with their goals.

All of these benefits ultimately lead to even better service for Korellis customers, noted Meredith Moran-Pruim, ESOP Communications Committee Chair and Korellis Security Coordinator.

“Anyone who comes to Korellis and walks through our halls can see that we still work together,” she said. “They hear people collaborating with each other to do the job, and do it well. Bouncing ideas off of each other to get things done in the most efficient way possible, not only for ourselves, but for our client. »

To learn more about Korellis, visit korellis.com

Aubrey L. Morgan