Travel and Transport Extends ESOP Benefits to U.K. Employees
In the U.K., all Travel and Transport and Radius Travel employees will enjoy the benefits of this profit-sharing model.
Travel and Transport, the world’s only employee owned global travel management company, has announced it will extend its ESOP (Employee Stock Ownership Plan) benefits to U.K. employees today, the company’s 73rd birthday.
In the U.K., all Travel and Transport and Radius Travel employees will enjoy the benefits of this profit-sharing model, which include additional retirement benefits and an enhanced sense of ownership and engagement.
“All of our employees must have access to the benefits of our ESOP, first and foremost because it’s the right thing to do,” said Travel and Transport CEO Kevin O’Malley. “Beyond that, including all employees in our shared ownership model makes everyone an employee-owner, which improves engagement and personal investment in the company’s continued success.”
The company’s annual performance directly relates to the value of the yearly retirement contribution that employees receive, instilling a culture of care, consultation and respect for customers that fosters authentic, long-term relationships, rather than short-term quarterly goals.
“By empowering our employees, they have the opportunity to make decisions that positively impact our customers on a daily basis. We want to offer solutions that create value as well as strong, lasting partnerships,” added O’Malley.
As well as the advantages for employees and customers, the ownership model insulates Travel and Transport from acquisition.
Completely employee-owned, Travel and Transport is on the National Center of Employee Ownership (NCEO)’s list of the top 100 largest majority employee-owned companies.
About Radius Travel
Radius Travel is a global travel management company that designs and delivers programs for multinational companies through a network of best-in-market agencies. The Radius network is made up of over 100 agencies worldwide and manages more than USD 30 billion of annual corporate travel spending. The Radius Global Partnership Program, featuring the world’s leading hotel brands, is one of the largest in the corporate travel market. In September 2018, Radius Travel consolidated its ownership structure, with Travel and Transport now owning 100% of the shares of Radius Travel. Radius has employees in five countries and is headquartered in Washington, D.C., US. www.radiustravel.com
About Travel and Transport
Founded in 1946, Travel and Transport, Inc., is one of the largest travel management companies in the U.S. specializing in corporate travel management, leisure/vacation travel and group/meeting travel services. Travel and Transport, a 100% employee-owned company, is recognized for unparalleled service, integrity and industry-leading technology solutions. Travel and Transport is headquartered in Omaha, Nebraska. Please visit www.travelandtransport.com for more information about Travel and Transport, Inc.
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