Watch Sandy King Discuss Symbiont Service Corp’s Employee Ownership on the “Journey to an ESOP” Podcast
In 2021, Symbiont Service Corp became 100% employee owned by transitioning to an ESOP (Employee Stock Ownership Plan). Just over one year later, we are still excited, and the company is flourishing!
Reflecting on Symbiont Service’s Journey to 100% Employee Ownership
Leading up to the anniversary of the big ESOP announcement, Sandy King, President of Symbiont Service Corp, sat down with Phillip Hayes to be interviewed for his podcast, Journey to an ESOP. Phillip, known as The ESOP guy, played an advisory role throughout Symbiont’s ESOP process.
In the interview, Sandy shares about:
- Symbiont’s beginnings as a standard HVAC company, and how Sandy’s father, the company’s original owner, was always thinking about his employees. He developed the SYMBIONT™ GeoThermal pool heating unit to provide work for his employees during the HVAC off-season. His attitude influenced Sandy’s own decision to transition to employee ownership.
- The other succession plans she considered, and why the ESOP option ultimately won out,
- The steps of the ESOP process and the challenges she faced,
- How she managed to keep both the interests of the company and her personal interests as the selling shareholder at heart, to ensure that everyone – herself and the employees – received the best deal,
- How things have changed in her role at the company now that the transition is complete.
A Proud Moment in a Time of Crisis
In a poignant segment of the interview, Sandy recalls a moment in the aftermath of Hurricane Ian where she truly saw the employees taking to heart their ownership of the company. “The day after the storm, even though my employees had damage to their own homes, they came in… and they started digging in and helping to clean up… and everyone was genuinely concerned.” She reveals the sense of pride she felt for her (former) employees. “I really felt like they were owners.”
The Symbiotic Relationship Continues
After candidly relating her insights, Sandy closes the interview with the following summary of her ESOP journey, “I think it’s totally worth it. I think it’s the future of businesses to continue to give back to your employees. You get something out of it too, so it’s still a symbiotic relationship… I’m excited to see how [Symbiont Service Corp] grows and continues to evolve.”
From the company’s beginnings as a conventional HVAC company to its current role as a statewide leader in GeoThermal pool heating and air conditioning technology, Symbiont has always been focused on taking care of its employees. Valued employees lead to satisfied customers, and the symbiotic relationship continues.
If you have any questions about our products or are looking to have a GeoThermal pool heating or air conditioning unit installed, feel free to call or email us. We would love to hear from you.
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