# Empowering the Trades: The Humphrey & Associates Story

By Business Services · Published 2024-03-05 · Updated 2026-05-19 · Engineering & Construction on MarketScale
Canonical: https://www.marketscale.com/industries/engineering-and-construction/empowering-ownership-in-trades

> A family-run contractor harnesses employee ownership to build a sustainable pipeline of skilled workers for the future

## Key points

- Employee ownership gives tradespeople a financial stake in the company, improving retention and engagement.
- Family-run contractors can use ownership structures to compete for skilled labor in a tight workforce market.
- Building a sustainable talent pipeline is critical for the long-term viability of trades businesses.

This enlightening episode of *Location Cubed*, a *Weaver: Beyond the Numbers* podcast*,* examines the heart of the trades with [Randy Humphrey](https://www.linkedin.com/in/rphumphrey/), the executive vice president of [Humphrey & Associates](https://www.teamhumphrey.com/). Weaver hosts [Howard Altshuler](https://weaver.com/about/people/howard-altshuler) and [Aaron Grisz](https://weaver.com/about/people/aaron-grisz) discover how this family-oriented business thrives on employee ownership and a commitment to nurturing the next generation of skilled tradespeople.

**Key Points:**

- **Humphrey & Associates**' unique business model offers its team members a stake in the company with employee ownership through its ESOP program
- Utilizing a proactive approach to recruit and train young tradespeople, **Humphrey & Associates** encourages the development of its people while addressing the industry's workforce shortage
- **Humphrey & Associates**' commitment to family values and community involvement sets a benchmark for corporate culture

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