Portsmouth, NH – [August 7, 2024] – Recordsforce, a leader in providing innovative document management and scanning solutions, is proud to announce that it has become a 100% employee-owned company through the establishment of an Employee Stock Ownership Plan (ESOP). This exciting transition marks a new chapter in the company’s history, empowering employees to directly benefit from the company’s success and fostering an even stronger commitment to delivering exceptional services to clients.
As a result of the ESOP, every eligible Recordsforce employee now has an ownership stake in the company, aligning the interests of the workforce with the long-term success of the business. This move ensures that Recordsforce’s values of collaboration, innovation, and client satisfaction are not only upheld but strengthened by a shared sense of ownership among all employees.
“Expanding the opportunity that business ownership can provide to our employees is one of the most significant business events of my career and is something I am extremely proud to have enabled,” said Bill Becker, CEO of Recordsforce. “Our decades of hard work building Recordsforce into what it is today couldn’t have happened without the combined effort of hundreds of team members, all of whom deserve the chance to benefit from their hard work and dedication.
By adopting the ESOP (Employee Stock Ownership Plan) we give employees a zero cost to the employee ownership pathway that includes no financial risk to their own assets, gives them a clear pathway to exit the business and get paid for the success of the company during their participation in Recordsforce. I can’t think of a better way to reward our employees than by giving them the opportunity to benefit from Recordsforce’s success that they helped create!
Additionally, as an ESOP owned enterprise, we become a tax free entity, meaning we gain a significant cash advantage over our competition, who has to pay for everything with after tax dollars. The transition positions Recordsforce favorably both from a culture perspective and from a competitive perspective. Considering the success the company has had leading up to this moment, the future is a very exciting time for Recordsforce and its team members.”
The establishment of the ESOP reflects Recordsforce’s dedication to creating a sustainable, people-first business model that rewards hard work, loyalty, and innovation. As owners, Recordsforce employees are now more invested than ever in delivering top-tier solutions to clients, driving innovation, and ensuring the company remains at the forefront of the document management industry.
Recordsforce has built its reputation on helping organizations go paperless with services such as document scanning, document management, and outsourced digital mailroom solutions. This move to employee ownership will enhance the company’s ability to continue delivering these services with a renewed focus on customer satisfaction and excellence.
For more information about Recordsforce and its transition to employee ownership, please visit www.recordsforce.com.
About Recordsforce
Recordsforce is a leading provider of document scanning and management solutions, offering comprehensive services that help organizations go paperless. With a focus on innovation and customer satisfaction, Recordsforce has been delivering document scanning, digital mailroom, and management services for over 20 years. Now 100% employee-owned, Recordsforce continues to lead the way in providing cutting-edge solutions to businesses nationwide.