Employee Stock Ownership refers to a system where employees own shares in the company they work for. This can be achieved through various programs, such as Employee Stock Ownership Plans (ESOPs), which allow employees to acquire stock, often at a discounted rate. This ownership can motivate employees to work harder, as they directly benefit from the company's success. In addition to enhancing employee engagement, employee stock ownership can also provide tax advantages for both the company and its employees. By aligning the interests of employees and shareholders, it fosters a sense of teamwork and commitment to the company's long-term goals.