EFES NEWSLETTER - JUNE 2012
European Parliament at work
During the public hearing we organised in the European
Parliament on March 22, we asked for a dedicated budget
heading of 2.5 million Euro for the promotion of employee
ownership across Europe. A clear, simple, cheap proposal.
It will allow information centers about employee ownership
to be organised in every member state of the European Union.
This is the key-point to combat obstacles to multinational
employee share plans, a condition for "a single market
for employee ownership". Now the Parliament is working.
We hope an effective decision will be taken. More
Democratization rate of employee ownership in Europe
The democratization rate of employee ownership is calculated
as the proportion of employee owners among all employees.
It was continuously rising in European companies for 30
years and even through the recent financial crisis (see
graph). It was 30.1% in 2011, which means that one-third
of all employees are now co-owners of their company. This
rate of democratization should still increase to 50-60%
in the near future. More
We made a selection of 46 remarkable articles in 11
countries in May 2012: Austria, Canada, France, Ireland,
Italy, Netherlands, Spain, Switzerland, UK, USA, Zimbabwe.
Austria: The Austrian People's Party asks for higher
tax benefits to promote employee financial participation.
Telekom Austria: Employee shareholders ask for full voting
France: New employee share plans for Vinci, for Nexans.
France Telecom: Employee shareholders want voting rights
to be exercised by employee shareholders themselves and
not by employers or by unions. Multiple voices calling for
employees and employee shareholders to get wider place in
corporate governance. Some typical workers cooperatives.
Business transfer through workers coops.
Ireland: Eircom: Game over for employee ownership.
Italy: New law proposal for employee share ownership.
Netherlands: Witteveen+Bos is a remarkable case regarding
employee ownership in The Netherlands.
Spain: The Basque Federation of sociedades laborales
(ASLE) is going to open its doors to all kinds of employee-owned
companies. Mondragon's Fagor Group: The 8.900 employee owners
approve a further reduction in wages.
Switzerland: UBS' annual shareholders meeting combats
employee share plans.
UK: A leading Scottish specialist manufacturer confirming
that it has become employee-owned. It seems the potential
of owning a stake in your own company at the current time
is not enough to motivate and engage UK workers. UK workers
are not motivated by Government-backed employee ownership
business models, and instead want greater focus on a bonus
culture, a new poll suggests.
USA: Employee ownership brightens jobs outlook. The
Foundation for Enterprise Development launches trailer for
"We the Owners: Employees Expanding the American Dream".
Why We Need More Employee-Owned Businesses: The John Lewis
Zimbabwe: Indigenisation boon for workers: The Government
has approved over 100 ESOPs proposals by foreign mining
firms operating in the country.
The full press review is available
political roadmap for employee ownership in Europe
EFES needs more members. Download the EFES membership form
new on the EFES website?
NEWS distribution: 200.000