As Dan goes on to explain , the Employee Stock Ownership Plan ( ESOP ) that was established in 2019 was an essential factor in how the company dealt with the Covid-19 pandemic . “ All of a sudden , with the arrival of the pandemic , the concept of business ownership and making quick decisions internally became very real – in fact , being able to manage our way through the ups and down of Covid-19
“
Hercules is in the process
“ of reinvesting considerable funds
through the ESOP model was a turning point in how we could respond to adversity ,” he reveals . “ It was so impactful . We could now manage our way through the various waves and make decisions
without external influence . With the running of the organization in the hands of its employees ( whether that employee works in a warehouse or is an executive ), we firmly established ourselves as a reliable source for our contracting network . In turn , this enabled us to grow our revenue despite the global situation .”
Increasing automation
Currently , the ESOP model is offering benefits that concern employee engagement and security . Hercules is in the process of reinvesting considerable funds in its various manufacturing locations , upgrading machines , but also introducing automation as a means of improving efficiencies and output . Yet , as Dan divulges , that move has not been met with universal ebullience . “ There was , in fact , some discomfort among our employees in the production team when we revealed our plans to increasingly automate manufacturing
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