Serial ESOP Entrepreneur Buys Local Staffing Agency to Begin Transition to Employee Ownership
Entrepreneurs and investors across the US are working to improve the economy and reduce income inequality by buying companies from retiring owners, investing in those companies, modernizing them and empowering the employees to become the owners.
At the forefront of that movement is Cincinnati entrepreneur Tim Rettig, who purchased Premium Personnel, a Fairfield-based staffing agency, in early 2020.
“This agency has been a pillar of the community for more than 30 years,” Rettig says. “I’m excited to be able to keep the ownership local and give the tenured employees the opportunity to share in the ownership of a company they helped build.”
Rettig is no stranger to employee stock ownership plans (ESOPs), as his father, Jay Rettig, transitioned Software Solutions, Inc. in Lebanon, Ohio, to an ESOP in 2004, and Tim transitioned his company, Intrust IT in Blue Ash, to employee ownership in 2019. Rettig envisions transitioning Staffanation to employee ownership over the next five to 10 years.
Staffanation’s mission is to connect people with opportunity and pave the way to help them achieve their American dream. Staffanation provides employers with no-hassle hiring by offering application processing, interviewing, screening and payroll services.
In 2019, the company placed more than 1,300 local people in jobs. With dedicated, long-time employees remaining on staff, Rettig hopes to increase those numbers in 2020. The website makes it easy for job candidates to apply online for a wide range of temporary, temporary-to-permanent and direct-hire positions. Through the site’s portal, job seekers can scan listings in categories like clerical, customer service, skilled manufacturing, janitorial, assembly and warehouse operations. Many jobs are available to start almost immediately.
“Streamlining the online application process means Staffanation can continue to provide services to candidates and employers safely at this time,” Rettig explains. Currently, the hiring process begins with phone screening and interviews.
“Even with the global pandemic, there are hiring hot spots,” Rettig says. “We feel honored to be able to help people find meaningful employment at this unprecedented time.”
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For more information visit Staffanation.com or call 513-829-7764. To see Staffanation featured in the Cincinnati Business Courier, click here.
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