CC&N and NEXT Electric Named 2014 ESOP Company of the Year
CC&N and NEXT Electric, Inc., have been named ESOP Company of the Year by the Wisconsin Chapter of The ESOP Association. CC&N, along with its subsidiary NEXT Electric, was honored at the state ESOP conference on March 10 in Madison and will continue on to compete at the national level for ESOP Company of the Year. CC&N also won ESOP of the Year honors from the WIESOP in 2010.
CC&N and NEXT Electric were selected based on communication with employees; commitment to employee participation, wealth creation and individual dignity and worth; and financial stability.
“We’re extremely proud of this award because each of our employee-owners can take credit for it,” says Lisa Reardon, president and CEO of CC&N.
Ken Dixon, chair of the CC&N/NEXT ESOP Committee, said receiving the ESOP of the Year honors reflects the organizations’ efforts to increase employee involvement in 2013.
“Our efforts have made a significant impact on company culture by improving our approach to company communications, workflow, inter-department collaboration and response to customer needs,” says Dixon.
In 2013, CC&N and NEXT launched several internal initiatives, including a Continual Improvement program designed to streamline the organizations’ day-to-day operations; strategic alliance of the CC&N/NEXT ESOP Committee; and a new employee onboarding and ESOP education process.
“Our company ESOP culture is positive and supportive,” says Chris Surges, president of NEXT Electric. “That has been extremely important in building a team of exceptional people who like the company they are working for.”
An ESOP, or Employee Stock Ownership Plan, is an employee benefit plan that allows employees to become owners of stock in the company. Several features make ESOPs unique when compared with other employee benefit plans. For example, only ESOPs are required by law to invest primarily in the securities of the sponsoring employer.
There are approximately 11,500 ESOP companies in the country, covering more than 10 million participants. Today, 10 percent of the private sector works for ESOP companies. In 1974, there were just 200 ESOP companies.
CC&N and NEXT Electric are headquartered in Pewaukee. CC&N also operates offices in Appleton, Racine and Madison.
Founded 28 years ago, CC&N (Communications, Cabling and Networking) is one of Wisconsin’s largest providers of network connectivity and communications technologies. CC&N provides cabling, fiber and wireless infrastructure; DAS and security systems; integrated voice, data and video collaboration; IT network services, including 24-hour networking monitoring; and remote and onsite staffing solutions. The company’s customers range from small and mid-size businesses to Fortune 500 enterprises. A 100% employee owned company, CC&N is dedicated to quality, safe working practices and absolute integrity in all of its business relationships.
Founded in 2012, NEXT Electric, a wholly owned subsidiary of CC&N, is a premier electrical contractor focused on designing, installing and maintaining electrical systems for a wide range of industries in southeastern Wisconsin.