KKR Exec Launches Policy Effort Aimed at Boosting Employee Ownership

KKR (NYSE: KKR) executive, Pete Stavros, is leading a new initiative to promote employee ownership structures within the senior living industry. Stavros, co-head of global private equity at KKR, has launched the “Expanding ESOPs” effort to advocate for employee stock-ownership plans. Backed by various organizations, the initiative aims to address wealth inequality, employee engagement, financial literacy, racial equity, and overall workforce equity. Stavros believes that implementing employee stock plans can have a significant impact on the economy by increasing employee buy-in and productivity. The effort also focuses on ensuring fair valuation of stock for workers and prioritizing benefits for frontline workers over top executives. While not widely practiced in senior living, employee stock plans have the potential to improve job satisfaction and retention among frontline staff. Stavros’ initiative is particularly relevant for the senior living industry, given its challenges with hiring and retaining staff. By encouraging legislation that supports employee ownership, Stavros hopes to diversify leadership within companies and empower individuals from diverse backgrounds to participate in wealth creation opportunities.