An Employee Stock Ownership Plan (ESOP) is a retirement benefit plan designed to give eligible employees a special kind of ownership in a company. In Challenge’s plan, each year eligible employees will earn shares of stock in Challenge simply by working at the company. Over time, as the company grows, employees will share in that growth financially through retirement benefits.
Challenge is a proud member of the ESOP Association.
At Challenge, people come first. The ESOP was created 1997 and has been a critical element to our success. The founder felt that it was the company’s responsibility to prepare its hard-working employees for retirement. The concept of an employee-owned company fit seamlessly. The ESOP enriched Challenge’s mission, principals, and culture. Being employee-owned enables a collaborative and teamwork-oriented work culture at Challenge. This differentiates us from our competitors.
Challenge is the 40th largest ESOP Company in the U.S.