April 28, 2026

This piece is sponsored by GreatLIFE Golf & Fitness.

One year after transitioning to employee ownership, GreatLIFE Golf & Fitness is beginning to see how a shift is taking shape — not only in its culture but also how employees think about their futures.

The Sioux Falls-based unlimited golf and fitness business announced its transition to an employee stock ownership plan, or ESOP, in April 2025, creating a structure that allows eligible employees to earn shares in the business over time. While the financial impact still is taking shape, leadership said the first year has reinforced something deeper: a sense of shared purpose.

“The cool thing is not a ton has changed in terms of the way we do things, but I think there’s just been more intentionality behind how we focus on being good stewards of our membership revenue,” president Nick Ovenden said.

“These are funds our members entrust to us, and now we’re the owners. So we’re intent on making sure we’re utilizing those funds as best as possible.”

That shift in mindset — from employee to owner — is a powerful one that benefits GreatLIFE members as much as the team itself.

In a recent message to employees marking the anniversary, Ovenden emphasized that the ESOP is about more than a benefit. It’s about building something together over time — and giving team members a direct stake in the outcome.

Employee ownership, he said, creates an opportunity for team members to share in the value they help create every day, reinforcing the idea that individual effort contributes to long-term success.

“By becoming employee-owned, we ensured that our company remains locally owned by you for many years to come,” he said. “That decision wasn’t just about structure or strategy — it was about people. It was about protecting what makes GreatLIFE special and giving each of you a direct connection to the success and future of the organization.”

That opportunity is beginning to feel more tangible.

“I think it will start to become more real as we’re soon able to put a number to ownership,” Ovenden said. “We’ll each get a statement of how many shares we have, the value of them, and that process will continue every year.”

The company backdated its initial allocation to 2024, meaning eligible employees already have their first shares, with additional allocations underway for 2025.

To qualify, employees must be at least 21 years old, work for the company for a year and log at least 1,000 hours annually — a threshold roughly equivalent to part-time employment.

GreatLIFE currently has about 120 employees eligible for the ESOP, a number expected to grow to approximately 160 after this year.

As that group expands, Ovenden expects the long-term value of ownership to become more visible.

“It has been a talking point, especially with some of the more tenured, career-minded people, because there is that curiosity,” he said. “We haven’t had anything to show them in terms of actual numbers yet, but in the next few years, it will become more and more real.”

Over time, shares are allocated annually and grow in value as the company grows — creating a compounding benefit tied to performance.

“Every year you compound the shares, the valuation of the shares will go up, and that’s a big deal for people,” he said.

For Ovenden, that long-term wealth-building potential is one of the most compelling parts of the ESOP — especially in an industry where benefits like this are less common.

At the same time, he said, the transition has felt natural because of the culture already in place at GreatLIFE.

“Our team has taken such an ownership mentality in everything,” he said. “We’ve focused on doing things right and treating it like it’s our own — making sure we’re doing quality maintenance, making sure things are working properly. That’s what an owner generally does, and that’s what we’ve instilled in our team from day one.”

Because of that foundation, the move to employee ownership didn’t require a major shift in operations.

“It hasn’t been a 180-degree shift because it didn’t need to be,” Ovenden said.

Instead, the ESOP has reinforced behaviors that already existed while giving employees a clearer connection between their work and the company’s success.

That connection is a key part of GreatLIFE’s broader effort to position itself not just as a workplace but also as a place to build a career.

“What’s been the most meaningful over the past year is that while ownership evolved, who we are did not,” Ovenden told employees. “Over this past year, I’ve seen our mission come to life in even more intentional ways. In the conversations you have with members. In the way you support one another. In the pride you take in your work. In the impact you’re making in our communities every single day.”

The company continues to invest in development programs designed to help employees grow professionally, whether they plan to stay long term or still are exploring their path.

“We’re continuing our pathways. We’ve created even more opportunities for continued education,” Ovenden said.

That includes partnerships with colleges that allow employees to earn academic credit through GreatLIFE’s internal training program, GreatLIFE University.

“As we get more and more kids taking gap years, I always encourage them to come in and not lose momentum,” Ovenden said. “Even if it’s not a career for you, let’s get you into our development program to learn more about yourself and make intentional decisions about what’s next.”

The goal, he added, is to create an environment where employees continue learning and developing — rather than feeling like they’re pausing their progress.

That focus on growth has helped support team retention, which remains strong compared with industry averages.

“We have a really good history of good retention with our team,” Ovenden said. “We have an attrition rate that is well below normal for our industry, so we’ve been very fortunate that way.”

The ESOP is expected to strengthen that even further over time, particularly as employees begin to see the financial impact of ownership.

Operationally, the company also is in a strong position, with a steady pipeline of internal candidates prepared to step into leadership roles, he added.

“We’re in a really good spot right now,” Ovenden said. “We have a couple leadership positions open, but we have a good pipeline of people who have gone through leadership development and have grown from within.”

Seasonal hiring also has improved.

“We have more returning seasonal team members than we’ve had too,” he said.

“It’s really about staying diligent about what we’re doing and focusing on serving members. If we do that, we’ll be in a really good spot in the next handful of years.”

Most critically, “ownership didn’t change our culture. It strengthened it,” he continued. “As we look ahead, this is just the beginning.”

To learn more about growing your career at GreatLIFE, start here.