Shares in a fast-growing company is often a big draw for those who choose to forgo corporate jobs and get into the startup scene. But in many companies, shares are only available to those lucky few who staff the company’s headquarters.
Not so at.
On Friday at a press conference attended by U.S. Labor secretary Tom Perez, the office management startup announced a new “Operator Stock Option Program” that will allow employees at all levels throughout the company to get equity in the company.
“The Operator Stock Option Program provides real ownership in the company for the people working tirelessly to make it a reality,” said Managed by Q CEO Dan Teran (pictured right) in a statement. “Our mission at Q is to make the world work better, not just for our clients, but for everyone.”
The first startup in its space to offer an organization-wide employee option program, the company is taking a Q from Starbucks, which introduced a similar equity program, Bean Stock, in 1991. The plan is to give away 5 percent of the company to front-line workers — cleaners, handypeople and other field staff — over the next five years.
Offering fully paid healthcare, 401ks, bonuses, PTO and career development opportunities for all of its employees, Q has gained recognition as an employer from The White House, Bloomberg and The New York Times.
“President Obama and I have worked tirelessly to ensure that our economy works for everyone, but we know government can’t achieve that goal alone,” said Labor Secretary Perez. “Every day more and more companies are realizing that their shareholders are best served when all stakeholders are well-served, including their workers.”
Founded in New York in 2014, Managed by Q is named after the fictional British Secret Service agent who provides James Bond with gadgets. Managed by Q has a major presence in Chicago, and also operates in Los Angeles and San Francisco.
Teran, on his end, is hoping the program will give his employees a leg up moving forward.
“Our hope is after building a career with Q, Operators will be able to use these stock options to put a downpayment on a home, pay for a college education or make another investment in their future,” he said.
Images via Managed by Q.