Thriving In Our ESOP Era 🫶
Since 2010

At SEP, we’re passionate about what we do but even more about the amazing people behind it all. We’ve always cared about our team, but things really kicked up a notch in 2010 when we launched our Employee Stock Ownership Plan (ESOP).

So, what’s an ESOP?

The details get complicated quickly, but it’s essentially a tax-advantaged retirement plan like a 401(k), but with a cool twist (our employees don’t have to contribute to it). It allows employees to own a piece of the company’s success without personally investing in it.

What does employee ownership mean for SEPeers?

SEP has always been a special place, but our leadership’s commitment to creating a place where employees want to work was cemented in 2010 when our founders transitioned their ownership to an ESOP. While our culture prior to 2010 feels the same as it does not, being an employee-owner makes it a bit more personal. When the company succeeds, so does each of us.

A Place People Love to Work

When SEP launched in 1988, our founders had a bold vision: to create a company where people would love to work. They focused on craftsmanship, balance, and transparency with our clients. It’s never just been about making money—it’s about people and relationships. We want smart folks to do great work and live a life they love. That focus on relationships is why people love working here. Just check out our 15 ‘Best Place to Work in Indiana’ awards—they prove we’re doing something right, especially since we became an ESOP!

Long-term Stability and Growth

We’ve weathered many changes in the markets we serve but have remained profitable for nearly all 36 years. We carefully manage our finances to confidently handle market fluctuations, always keeping employee benefits in mind. This mindset has contributed significantly to the growth, strength, and stability of our culture and performance as a company.

Learning, Mentorship, and Professional Development

Creating and sustaining a culture where we’re all growing is key, even before we became an ESOP. Thankfully, we love learning and staying on top of the ever-changing software industry. We encourage each other to grow and have created programs to do just that. To name a few:

• Our Guides program pairs new hires with mentors for their first year at SEP.
• Our SEP Learns program introduces early-career employees to seasoned SEP leaders and best practices for project execution and delivery.
• Our Customer Experience skills development program equips makers with the tools they need to serve customers.

Transparent Communication

Open communication is key to our employee ownership culture. Whether it’s quarterly open forums with our President and CEO, transparent discussions around our financial health, or year-round employee check-ins, we feel transparency keeps us all on the same page.

What does employee ownership mean for our clients?

Stability and Investment

Being employee-owned means we’re (literally) invested in what we do. The employee ownership model frees us to focus on our customers rather than our own short-term profits. We bring stability and reliability that few consultancies do.

With a 90% retention rate, our clients don’t experience talent turnover mid-project. Owners stick around, which is a comfort to our clients and a boost to our productivity.

Finding Awesome People

Clients often ask us, “How do you recruit such awesome people?” The quality and talent of our employees is a major competitive advantage for us. Recruiting here is a team effort; it’s not just something HR handles. Our dedicated talent scouts are all in, and they eagerly volunteer their time to find the best of the best.

When we’re on the lookout for new team members, we’re not just hiring employees; we’re inviting people who think like owners to join us. We get that in a service-driven business like ours, our success hinges on how well our team creates real value together and with our clients. This mindset is what keeps us delivering those uniquely exceptional experiences our clients love.

Fun Fact: In 2023, Indiana ESOPs paid out $312M in benefits. Collectively, those same companies hold $5.1B in assets. 👀

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