What happens when you combine employee ownership with human services? In this episode, I sit down with Eric Strickland, CEO of 3TLs—a purpose-driven group of 18 employee-owned companies with nearly 700 employee owners across five states. Eric shares his 20-year journey from CFO to CEO, including the rare "ESOP-to-ESOP" transaction that launched 3Ls and his innovative approach to building employee wealth through vertical integration.We explore how Eric thinks about employee ownership as an asset allocation problem, why culture requires intentional investment, and how to drive innovation in purpose-driven organizations. From quarterly town halls to investing in early-stage healthcare tech, Eric reveals what it takes to make employee ownership work in mission-focused businesses where workers care more about impact than retirement accounts.Timestamps:00:00 Introduction and Eric's Background03:00 The First ESOP and Why It Closed to New Participants07:00 The Rare ESOP-to-ESOP Leveraged Buyout12:00 Three Ls and the Vertical Integration Strategy20:00 Investing in Culture and Building Trust30:00 Driving Innovation Through Frontline Creativity36:00 Innovation as Asset Allocation39:00 Common Myths About ESOPs45:00 Quickfire Questions and Final AdviceKey Takeaways:Why OmniVisions needed a second ESOP after the first closed to new participantsHow to think about employee ownership as a retirement asset allocation problemThe vertical integration playbook: turning operating expenses into employee-owned businessesWhy quarterly town halls with open Q&A build the trust necessary for strong EO cultureThe biggest ESOP myths: complexity and cost compared to traditional exitsWhy it takes 24+ months for young workers to see meaningful value in their ESOP accountsAbout Eric Strickland:Eric Strickland is the CEO of 3Ls, a purpose-driven organization of 18 employee-owned companies serving human and health services across five states. With a 20-year tenure that began as CFO of OmniVisions in 2005, Eric has become a leading voice in the employee ownership movement, bringing a systems-minded, numbers-focused approach to social entrepreneurship.Connect with Eric Strickland:LinkedIn:https://linkedin.com/in/eric-strickland-3ls/ Website: https://3ls.com Connect with Andy Farquharson:LinkedIn - https://linkedin.com/in/andyfarquharson/ Instagram - https://instagram.com/andyfarq Website - https://abettermonday.me/ Email - [email protected]

Ver todos los episodios