A Sustainable Architecture Firm's Shift to Employee Ownership
BNIM recently shared insights from their principals
In October 2023, design firm BNIM announced its transition to becoming an employee-owned company. They opted for an Employee Stock Ownership Plan (ESOP). By doing so, they placed ownership in their employees’ hands, in hopes of upholding the core values and mission of BNIM. BNIM is a sustainable architecture firm whose practice areas focus on sustainable design, community redevelopment, urban planning, educational facilities, and many others. Summarized below is an update from the firm’s principals, 3 months on.
In a recent interview with Bloomberg City Lab and BNIM, BNIM principals Laura Lesniewski and James Pfeiffer spoke to Bloomberg CityLab about the decision. They also covered some of the effects of their transition regarding designing projects and what drew them to an ESOP.
When asked about becoming employee-owned, Laura Lesniewski explained that the model simply aligned with their core values, and choosing an employee-owned company model would also allow their employees to accrue shares and value in the firm once they have been employed for a year. Lesniewski also explained this kind of structure (ESOP) is relatively new to them, so they have not yet seen a particular design decision be different. When asked what made being employee-owned attractive, Pfeiffer explained that the main reason was because of culture. They believe this move will strengthen their culture and design while positively affecting their staff, designers, and anyone who works at BNIM.
Are you looking for the full interview? Click here!