REISSUE: PE leading the way on employee ownership!?! You heard that right!

Check out an old episode from our vault with Pete Stravos, who will be speaking at the CEO Summit (October 22-24) in Austin, Texas. Click here to register and learn more about it. Pete Stravos at KKR is leading the way in driving outstanding returns through a focus on employee ownership and building great cultures. Simple formula- challenging to implement! Drive engagement and align incentives for success--- make front line workers care about the outcome and give them life changing opportunities to build financial wealth. The opportunity is huge! Only 20% of employees are actively engaged at work, the average turnover rate in the US is 40 % per year, and the Treasury Department estimates 70% of American workers are financially illiterate. Into this world comes Stravos with a plan to address these ills and make great returns for his investors. As he says, hard core capitalist love this because of the returns- they don’t have to buy into the philosophy. But those that understand the benefits of doing business this way love it! Peter summarizes, “We will exit 8-10 straight 3x deals, which I think in the history of private equity has never been done. I don't think any industry vertical at any firm ever will say, you know, 10, straight triples! And so I think it's going to be hard for people to say that this is hurting investors, that its’ doing anything other than driving great returns.  ** If you enjoy this podcast, would you consider leaving a review on Apple Podcasts/iTunes? It takes only a few seconds and greatly helps us get our podcast out to a wider audience. Please subscribe on Apple Podcasts / Spotify / Stitcher, or wherever you get your podcasts. For transcripts and show notes, please go to: https://www.theconsciouscapitalists.com This show is presented by Conscious Capitalism, Inc. (https://www.consciouscapitalism.org/) and is produced by Rainbow Creative (https://www.rainbowcreative.co/) with Matthew Jones as Executive Producer, Rithu Jagannath as Lead Producer, and Nathan Wheatley as Editor. Thank you for your support! - Timothy & Raj Time Stamps 00:00 Welcome to The Conscious Capitalists 00:36 Introducing Pete Stavros 01:44 The Importance of Employee Ownership 04:33 Challenges and Misconceptions 06:12 Personal Journey and Influences 09:14 Implementing Employee Ownership 13:25 Success Stories and Examples 21:48 Ownership Works Initiative 24:17 Documenting the Journey 28:23 Sponsor Message: 2024 Conscious Capitalism CEO Summit 29:14 Balancing Long-Term Investments in Private Equity 30:31 Success Stories: Ingersoll Rand and Employee Engagement 32:04 The Importance of Purpose and Mission in Business 35:18 Due Diligence and Leadership in Private Equity 39:15 Employee Ownership and Its Impact 50:09 Challenges and Opportunities in Public Markets 52:03 Recruitment and Retention at KKR 56:40 Final Thoughts and Future Directions