Parallel Technologies, Inc. Kicks Off Employee Ownership (EO) Month
Dublin, OH – Parallel Technologies, Inc., an Ohio-based provider of business communications technology services, has kicked off a series of events as part of Employee Ownership (EO) Month.
Each October, companies around the world take the month to celebrate employee ownership. This year, in the face of heightened uncertainty and struggles around public health, job losses, and small business closures, it is particularly important to highlight the transformative potential of employee ownership as a stable economic engine for communities.
“Employee ownership can be a wealth building tool that brings economic security,” as evidenced by a 2019 study.[1] Employee owned companies are also more resilient. In past recessions, employee owned firms outlasted their peers and were 50% less likely to lay off employees.[2]
“EO Month is a perfect time to recognize our incredible employee-owners who make our company successful,” said Rob Schmittauer, Vice President. “We are proud to be Employee Owned and are excited for the opportunity to make EO more visible to our customers, business partners and local community.”
This year, Parallel Technologies, Inc., a member of Certified Employee-Owned, is celebrating EO Month by organizing Employee Owner Appreciation activities and educational opportunities with a weekly theme.
“I am proud to be an employee-owner at Parallel,” said Lori Robinson, Executive Assistant to the President and ESOP Communication Committee Chair. “To me, employee ownership means everyone working towards the same goal – retirement!”
Parallel Technologies, Inc. became employee-owned one year ago, in October 2020, when previous owners Don Poling, Rob Schmittauer, Jamie Baird and Brad Lotz decided to transition to an employee-owned company to reward employees for their many years of service and commitment.
[1] https://smlr.rutgers.edu/sites/default/files/rutgerskelloggreport_april2019.pdf
[2] https://www.nceo.org/assets/pdf/articles/EO_Costs_of_Unemployment.pdf
