Big G Express, Inc., an over the road trucking company headquartered in Shelbyville, Tenn., is celebrating Employee Ownership Month during October.
The company operates on an Employee Stock Ownership Plan (ESOP), which they adopted in 2009. The company is 100 percent employee owned. Through the ESOP, employees are able to receive shares in a retirement account without any money out of pocket.
The company will have a fall festival on Oct. 31 as well as a company motorcycle ride as part of the month’s events.
“We’re spending the month celebrating Employee Ownership and all it has to offer employees and their families,” said Jodi Lamb, manager of marketing and communications at Big G Express, Inc.
Big G Express Fleet Profile
- In business since 1995
- Employee-owned since 2009 through ESOP
- Average driver ESOP account is $25,000
- Over the road
- All company drivers
- General commodity freight
- Nationwide transportation services but majority of freight is East of the Mississippi
- June reports showed ESOP stock price went up over $11 a share
- Starting pay is $0.36 cpm for 1-3 years
- 3-5 years = $0.38 cpm
- 5+ years = $0.40 cpm
- Top out is $0.46 cpm
- Half a cent raise every 6 months
- Automatic extra pay for short hauls less than 300 miles.
- Monthly mileage bonus – $0.01-0.04 cpm (>8,400 miles $0.01 cpm, >9,400 miles $0.02 cpm, >10,400 miles $0.03 cpm, >11,400 miles $0.04cpm). Started in August 2015 and the company has paid out around $90,000 in August and September with an average bonus of $0.02 cpm.
- Fuel and performance bonus paid twice a year of a half cent per mile
- Annual safety bonus of a half cent per mile
- Blue Cross Blue Shield
- Health insurance
- Life insurance
- Dental and Vision
- 401(k) with 10% matching of the employees deferrals up to 50%
- Employee Ownership: Free retirement plan with no money out of the employee pockets
- Rider Policy (10 years old and employee purchases a $60 policy annually)
- Pet Policy (One small dog under 15 pounds or less/pet deposit required)
- Paid orientation
- Vacation Pay: One week after a year, two weeks after 2 years, 3 weeks after 10 years and 4 weeks after 20 years
- At least 6 months OTR driving experience
- 21 years of age