• by Steve McClellan  @mp_mcclellan, May 4, 2016

Portland, ME-based The VIA Agency today unveiled details of a new employee ownership business plan during its first shareholder meeting held in Portland.

VIA Founder and Chairman John Coleman describes the model as a “perfect deal,” believing that the employee owners, clients, the community and the industry will all benefit from it.

Coleman and his wife, Linda, will transfer their equity to employees through an incentive program over the course of the next 10 years.

“It took me 20 years to build the VIA Agency, so deciding on a succession plan took a lot of thought,” said Coleman. “I didn’t want to follow everyone else and approached it like we would for any of our clients, which is to rethink the problem and develop a new idea.”

Starting in 2016, at the end of each fiscal year, if certain benchmarks are met (financial growth, profitability and overall company health) the Colemans will transfer up to 10% of their equity and grant all employees stock options.

With success, employees have a chance to gain personal wealth without the risk of venturing out on their own, the agency said. Clients benefit from the extra incentive provided by employees that have skin in the game.

The model might also serve as a talent retention tool if other agencies adopt it or something similar to stop the talent drain to other industries like technology and finance known for more lucrative pay and stock packages, the agency believes.