As evidenced by their space-age architecture, P. Terry’s takes a rather unique approach to the traditional burger stand. And now they appear to be differentiating themselves further by giving employees an ownership trust in the future of the company.
In a move similar to H-E-B’s partner program, P. Terry’s announced it’s transitioning to a Employee Ownership Trust so some of their 1,800 employees across 38 locations can share in the long-term value of the business.
Here’s how it works: The trust would hold shares on behalf of employees, and will establish a company-wide profit-share for workers who have been there for more than two years. It’s set to begin at 5 percent of the operating income, with plans to gradually increase to 20 percent. So that two-year anniversary will bring much more than just a cake or something…