October is Employee Ownership Month! Did you know that Mortenson Dental Partners (MDP) is an employee-owned company? We are completely owned by our dentists and team members, with absolutely no private equity. When you join our organization, you automatically become an owner through our employee stock ownership plan, or ESOP.
What is an ESOP?
An ESOP is an IRS-qualified retirement plan that buys and holds company stock. In some ways, it is like a 401(k), except it requires no out-of-pocket contribution from the employee. That’s right, it’s free! It is fully funded by MDP. Each year, MDP makes contributions to the ESOP based on the overall profitability of the company. Those funds are then invested into an account for each team member. In addition to providing an ESOP, MDP offers team members the option to invest in a 401(k) plan.
Being employee owned is one of the most important ways we distinguish ourselves from other dental support organizations. Our team members feel a deeper sense of connection to our organization because of their ownership. They are empowered to do their best work and make decisions that are in the best interest of the company. When our company succeeds, our team members succeed as well.
Interested in learning more about how our ESOP works and the benefits of becoming an owner with MDP? Check out this video!
Working at Mortenson Dental Partners is more than just a job, it’s an opportunity to be an owner. If you’re ready to explore becoming an owner, we invite you to browse our open positions.
Happy Employee Ownership Month!