NewsOwning Our Ownership: What It Means to Be Part of VGM

Matching a percentage of a 401(k) is a great benefit for employees everywhere. According to the Bureau of Labor Statistics, the typical or average 401(k) match nets out to 3.5%. VGM, however, announced the 2021 Employee Stock Ownership Plan (ESOP) contribution benefit level along with 401(k) match was 32% of eligible employee’s salaries. That’s an additional $320 for every $1,000 earned last year! Over an employee’s time at VGM, that accumulates lifechanging wealth.

And that’s not all. The announcement came during an interactive live studio broadcast event called Owner’s Only that connected over 1,300 VGMers from across the country and in Canada—all from the comfort of their living rooms or at a viewing party at a local establishment.

Fast Track to Success

Owner’s Only is essentially VGM's annual shareholders meeting as VGM is a 100% employee-owned company. VGM CEO Mike Mallaro spoke of how people in our society became wealthy through ownership, and it wasn't right away. It took time and dedication. A great example is Cassi Price who joined VGM in 2007 at the age of 21 and has worked her way up to vice president of corporate projects.

“Stock in VGM was really the first adult thing I ever owned. I was a single mom starting my career to support my daughter and make next month’s rent. My parents still owned my car. I was a long way from purchasing a home. I had investments in nothing.”  –Cassi Price, Vice President of Corporate Projects at VGM

In 2008, VGM became a 100% employee-owned company when the ESOP purchased the rest of the stock from the original shareholders or founders and started building value from the ground up. Cassi also joined the path to lifechanging wealth that year.

“Today, I am extremely blessed to own my home, our family cars, and part of a business that continues to grow and increase in value. I can see it adding up in my 401(k) AND ESOP account at an incredible rate.” –Cassi Price

What Ownership Means to VGM Employees (video)

Learn more about the unique and positive benefits of VGM employee ownership from Scott Hagberg with VGM IT, Megan Chris with HOMELINK, and Allie Schaefer with VGM Fulfillment.

 

 

What Employee Ownership Looks like at VGM

VGM goes the extra mile to treat employees as true shareholders by making sure employees are always informed of the share value, company performance, and decisions for future growth. VGM also offers free resources from The Accel Group and Principal Financial to assist employee owners in preparing for retirement.

And VGM loves to celebrate. Each year the ESOP Communications Committee organizes a whole month when we celebrate the positive benefits of employee ownership.

Be Part of the VGM Family

At VGM, you don’t just work here. You own the place. Broad-based employee ownership includes all employee owners. Each person at VGM participates and we own it. There’s never been a better time to be part of the VGM family.

For more information, go to careers.vgmgroup.com.