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Employee Shareholder Option wins Randolph Town Employees 4% increase

June 21, 2012

The Randolph Town Employees Union last year negotiated what is known as the Employee Shareholder Option (ESO). This plan ties employee raises to the revenue growth of the Town. Growth is defined as an increase in property taxes, local state aide and town receipts. The ESO is an innovative approach to municipal collective bargaining. Much like a worker coop, it ties the financial well being of the town with its workers.

While ESO may be a somewhat unpredictable method of distributing cost of living increases in any given year, over time we've seen steady increases in municipal budgets while workers are left farther and farther behind. The ESO insures that as municipalities prosper so do workers.

Under the ESO each member of the bargaining unit will receive a 4% raise effective July 1, the first year of this program.

Hat's off to 888 Rep Bill Storella who led the Randolph negotiations over the Employee Shareholder Option last year!

Above: 888 Regional Rep Bill Storella welcomes back Sue Chase to the SEIU 888 staff. Sue served for several years and 888's Director of Bargaining. Sue returned this month to once again represent SEIU 888 members.