By Aimee Duffy, Design Workshop
Employee Stock Ownership Plans (ESOPs) are reshaping the way firms think about culture, retention and resilience. At Design Workshop, an international landscape architecture, planning and urban design firm, we’re celebrating five years as a 100% employee-owned firm with seven studios across the U.S. Over time, we’ve learned that ESOPs are more than financial structures; they’re cultural shifts that redefine how teams engage, grow and plan for the future.
Across the country, ESOPs are steadily expanding, with more than 260 new plans formed each year. According to National Center for Employee Ownership (NCEO), which reports that more than 10 million people in the U.S. are employee owners across many industries. Colorado has become a popular state for this movement due to strong advocacy from the NECO and the Rocky Mountain Chapter of The ESOP Association. These organizations provide education, engagement and networking opportunities for companies throughout the region. Their efforts reflect a broader recognition that employee ownership strengthens both businesses and communities.
Many ESOPs result when firm’s prepare for ownership transitions, particularly in architecture, construction and professional services. At Design Workshop, forming an ESOP Trust 20 years ago was a way to preserve our culture while planning for long-term ownership succession. Small steps over many years moved us toward full employee ownership. The transition was gradual, yet our vision remained steady. ESOP ownership gave us a framework to honor our legacy and support continuity for future generations. With an entire generation nearing retirement, including many entrepreneurs and business owners, ESOPs offer a thoughtful path for ownership transitions. These plans come with complex regulatory requirements and meaningful administrative responsibilities, and they can be expensive to establish. Trusted partners are essential for plan administration, financial advising, record keeping and legal counsel. When approached with care, the opportunity outweighs the challenge.
ESOPs also serve as tools for inclusivity, offering long-term wealth-building opportunities for employees, in addition to increased job stability though lower turnover and higher engagement. Every single person at Design Workshop participates, which means all staff members receive stock regardless of role or tenure. ESOP employees build wealth at higher rates than non owners, and even those with lower pay rates see their accounts grow when stock value increases. At Design Workshop, we’ve seen how accountability, transparency and shared success become part of daily operations. This culture of ownership empowers employees to think beyond their roles and contribute to the firm’s collective growth. Ownership extends beyond equity, it’s a mindset that fosters accountability, transparency and shared success. Inclusivity is magnified by recognition of contributions across levels. We are truly all in it, together.
Many prospective candidates are unfamiliar with the advantages of employee ownership. Yet the ESOP model becomes a clear differentiator once they understand its benefits. In a competitive labor market, our ESOP status has helped us attract and retain talent by showing that we invest in employees as long-term contributors and future leaders. It’s a recruiting edge that signals stability and shared prosperity. This ownership model instills a deep-rooted camaraderie and collaboration within our studios, where each member is an integral part of our collective journey. Transparency builds trust, shared accountability strengthens resilience and ownership encourages employees to see themselves as stewards of the firm’s future. These dynamics make succession planning more intentional and retention more sustainable. Our staff knows that by producing excellent work, leading innovative projects, delivering the highest quality service that they are thinking and acting like employee-owners. They know that the decisions they are making today impact the firm tomorrow.
As ESOPs continue to grow across the country and throughout the region, they represent more than a financial model; they’re a cultural shift worth watching. For firms navigating transitions or seeking to differentiate themselves, ESOPs offer a path to shared success and long-term sustainability.
Aimee Duffy is the director of human resources for Design Workshop. Based in the Aspen studio, Aimee leads Design Workshop’s people initiatives across all studios as Director of Human Resources. She serves on the firm’s Executive Leadership Team. She is responsible for all HR processes, including talent management, compliance, benefits, learning and development, performance management, as well as employee relations and engagement.
