Liberty Military Housing (Liberty), the first employee-owned military housing provider in the country and the largest in the multifamily industry, has announced that it has been named among the NCEO 2024 Employee Ownership 100, a list that ranks the largest broad-based employee-owned companies in the United States. This year, Liberty was ranked #87 out of 6,500+ ESOPs across the country, moving up four spots from 2023. This marks the third consecutive year the company has made the list.
Since launching its ESOP in 2020, Liberty’s 100% employee-owned and operated model has directly impacted many of its operational markers for success. Most notably, Liberty has continued to increase its overall resident satisfaction score, earning an all-time high score of 4.73 out of 5 last year. From 2018 to 2023, Liberty received a 37% increase in individual scores that reached the “Exceptional Service” range of over 4.50. Additionally, the company has maintained a 23.9% employee retention rate, as compared to the 33% in the multifamily industry, and was named among the Best Places to Work in commercial real estate by Globe St.
“Liberty’s employee-ownership model has created significant value not only for our company and our team members; it has also benefited the military families that we serve,” says Philip Rizzo, CEO of Liberty Military Housing. “As the largest ESOP in the multifamily industry, we are uniquely positioned to attract and retain some of the industry’s top talent and allow them to own their passion for service. This investment in our people has created an environment of collaboration, creativity, and efficiency, which directly benefits those who choose to live in our communities and strengthens our position as a leader in military housing and the multifamily industry.”
The National Center for Employee Ownership (NCEO) reports that there are 14.7 million ESOP participants in the United States, holding total assets of over $2.1 trillion. According to a 2023 study, employee owners have, on average, more than double the retirement savings in comparison to non-ESOP counterparts.
