Bluedog Design sees employee ownership as rewarding employees, extending award-w… – Press Release

Bluedog Design marking and growth consultancy forms ESOP.

CHICAGO, Feb. 13, 2023 /PRNewswire-PRWeb/ — Bluedog Design, a marketing and growth consultancy, has formed an employee stock ownership plan, or ESOP, to be held as company stock by its trustee. Bluedog Design, which ranked first on the 2021 and 2022 Crain’s Chicago Business Best Places to Work list, now joins 6,467 other companies–publicly traded and private–that are ESOPs. According to the National Center for Employee Ownership (NCEO), U.S. ESOPs have assets over $1.6 trillion.

“We’ve always had a great culture and worked intentionally to build it,” says Jeremy Anderson, a partner at Bluedog. “The ESOP program takes what we’re doing on the cultural front to the next level and rewards employees by making them owners.”

A 2000 study by Rutgers University found ESOPs increased sales, employment, and sales per employee by approximately 2.4 percent annually versus companies without such a plan.

Bluedog’s Founder Michelle Hayward feels the ESOP, more than any other financial structure, protects the employees’ opportunity to grow their stake in the future of the business. The freedom to do this is what Bluedog dubs its “growth universe.” In fact, Bluedog CEO Shannon Murphy is a beneficiary of the company’s enduring culture. She began her career with the firm 13 years ago and in January 2023 earned the role of chief executive. She’ll join Mark Koenig, Bluedog’s chief financial officer, in leading day-to-day operations at the company.

Adds Murphy, “Clients trust us to be an extension of their team and to show up like owners. The ESOP just makes it official.”

To punctuate her point, Murphy notes that in the last year Bluedog Design’s employees helped create and successfully launch 20 new products, many of them for the world’s best-known brands like Tik-Tok, M&Ms, Tropicana and Gillette.

“With the ESOP, we’re creating an intentional growth strategy to safeguard Bluedog Design’s culture,” says Hayward. “We have…

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