Pace Harmon, a Vienna-based optimization and outsourcing firm serving Fortune 500 and middle market companies, announced that it has implemented an employee stock ownership plan (ESOP) as it completes the transition to a 100 percent employee-owned company.
The ESOP structure is a significant shift from traditional consulting partnership models where employees must typically attain partner status to participate in ownership.
“From analysts to partners, Pace Harmon has actively cultivated a collegial, teamwork-focused environment since the firm’s inception 11 years ago,” says Steve Martin, partner and co-founder. “While rare in the consulting industry, giving employees an ownership stake aligns with this core philosophy and enables us to further empower our team to invest in their client work and share in the company’s growth and success.”
Pace Harmon was recognized by Consulting as a Small Jewel back in 2007. Since its launch in 2003, the firm has continued to grow in revenue and employees, generating a 20 percent compound annual growth rate, Martin says.