Title Alliance Announces Nearly Half of the Company is Employee Owned Through Stock Option Plan
Monday, November 9th, 2020
Title Alliance, Ltd., a full-service title insurance agency offering a complete range of title and escrow services, announced 44.2% of the company is owned by its team members through the company’s Employee Stock Option Plan (ESOP) Trust. The announcement comes in tandem with National Employee Ownership month in October, and during the company’s virtual meeting that was held on Wednesday, October 21.
Title Alliance’s Employee Stock Ownership Plan (ESOP) was first established in 2014, when ownership started at 20%. Since its inception, their ESOP had a 651.9% increase in value per share, in fact from 2018 to 2019 alone, there was a 55.5% increase per share. The ESOP includes important benefits such as a strong retirement plan with no out-of-pocket contributions, job stability and pride in ownership for the team members who dedicate themselves to achieving the company’s vision. To be eligible, employees must have been hired on or before December 31 of the year prior and work 1,000 hours during a calendar year, with a full vesting occurring after six years.
“I am thrilled to see how much our Employee Stock Ownership Plan has grown over the past six years,” said Jim Campbell, Chief Executive Officer of Title Alliance. “We believe this offering is value added for our employees, as a way to gain long-term incentives and have a stake in Title Alliance’s success, since our employees are truly the ones helping us achieve our financial goals.”
Title Alliance’s ESOP not only provides an opportunity for loyal and dedicated staff-members to grow retirement benefits, but it also provides the company with an innovative recruiting and retention tool for growth within the ventures.
Title Alliance is proud to offer ESOP along with a generous suite of other benefits to their employees. One of the pillars of the Title Alliance philosophy is creating opportunities for personal and professional growth. As a result, while qualifications are important in the hiring process, being a cultural fit, having passion and drive, being a leader, and maintaining the company’s core values are a high priority.
“We built this company as a ‘partnership business,’ which means our investors have equity in our joint ventures, so it’s only natural for our employees be given a vested stake in our company as well,” said Sharon Lontoc, Chief Human Resources Officer at Title Alliance. “Title Alliance is a growth-minded company and we are focusing on strategically growing and expanding our business into areas which will increase our ESOP value and keep our employees happy and motivated.”
Title Alliance has grown exponentially over the past year, and is currently hiring more than 50 positions in Pennsylvania, Washington, Ohio, Indiana, Arizona, New Jersey, and Florida. With employee retention and customer service at the core of the business, the company is looking for prospective employees that will help continue the momentum the company has created throughout the past couple years as they continue to work to change the closing experience for their clients.
About Title Alliance:
Title Alliance has been forming successful single and multi-state title joint ventures with lenders, realtors, and builders since 1983. We work with our partners to establish in-house title and settlement operations, dramatically enhancing their customer service and increasing their profit. Started and headquartered in Media, PA, Title Alliance’s family of companies are currently in 10 States with more than 55 offices. Title Alliance works with partners to establish in-house title and settlement operations to dramatically enhance customer service and increase profit. More information at http://www.titlealliance.com.