Lemberg celebrates 30 years as an employee-owned company
BROOKFIELD – Lemberg Electric Company Inc., announced their 30th anniversary as an employee-owned company for October, Employee Ownership Month (EOM).
The electrical contracting firm functions under the Employee Stock Ownership Plan (ESOP) Association and has a designed retirement plan where qualified employees invest primarily in the company’s stock to receive “beneficial ownership” overtime. This allows them to share Lemberg’s success at no cost and receive fair market value of its upon leaving the company under eligibility requirements.
The company was founded in 1928 by William Lemberg and was sold to several members of the Lemberg family before being sold to the employees 30 years ago. By 1998, the ESOP trust became the 100% shareholder, making the company completely employee owned. It has since grown to 54 employees.
The company does several things to build culture. They run encouraging events and an office Olympics in which employees earn points by participating in activities and actively volunteering in the community.
The company also offers health benefits for both office employees, those in the ESOP program, and field employees, those working in electrical and construction.
The employee owners receive an employee forum every month in which the company shares results, talks about projects and allows time for employees to ask questions.
“One of the big benefits is their openness,” said Human Resources Generalist Bill Starck. “I’ve never been at a company where they really shared results as frequently and where we’ve had those monthly meetings to talk to the company leaders.” Starch added that the company allows employees to hear what’s really going on, informs them on what they can do to help and overall, they see a much better connection to their everyday work and Lemberg’s success.
Lemberg has five areas of service; electrical service, sign design and installation, data communications, electrical construction and energy management.
“Our goal is always to be the premier provider of those services in the Milwaukee area,” said Lemberg Marketing Director Eichelle Thompson. “We are capable enough to be able to compete with the larger companies.”
The company serves the Milwaukee area, all the way north to Green Bay, west to Madison and south to the border.
Lemberg does not struggle to find people for the electrical work. According to Starck, he receives at least one or two calls a week from those wanting to become involved in the field.
Starck said they run into staffing problems on the office side more often, as it is difficult to find qualified project managers with electrical experience. The company has upped their recruitment efforts to reach high school students who are unsure about their future careers. They participated in the inaugural Experience the Trades Expo for Waukesha County students earlier this month.
“You come out with no debt, you’re actually earning a good wage and now you have a skill on top of it. It’s a really great alternative,” said Thompson.
Lemberg will celebrate 30 years of its own ESOP with activities including a kickoff breakfast, a food pantry collection challenge against a neighboring business, games with proceeds going to the Hunger Task Force, trivia and more.
As seen in Waukesha County’s The Freeman and written by Faith Rae.