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Employee share ownership is not a cuckoo
A dangerous and irritating situation is occurring about employee share ownership within the OECD. The OECD suggests that ESOPs and employee share ownership should be discouraged because putting all employees' eggs in the same basket, especially considering pension savings. The principle of diversification applies to employee share ownership as to any other financial investment. It is illustrated by the aphorism "do not put all eggs in one basket."

However, employee share ownership is not just a financial investment. It also has the character of an industrial investment. This character is most evident when the employees' stake  reaches 100% of the company's capital, which is the typical case of employee share ownership in SMEs. However, it is also present, although more incidentally, to the minority employee share ownership in large companies.
If the aphorism of eggs and basket frequently applies to the diversification of financial investments, another aphorism applies better to industrial investment:  "The bird lays all eggs in the same nest".  Among the few exceptions, the example of the cuckoo is well known. It must be said: Employee share ownership is not a cuckoo. More information

Press review
We have a selection of 24 remarkable articles in 6 countries in September 2015: China, Finland, France, Spain, UK, USA.
China: Stock prices downturn turns stock ownership plan sour for employees.
Finland: Survey of Finnish personnel funds - the most typical employee share scheme in Finland.
France: New employee share plan for Technip, for Veolia, for Spie. The new legislation ("Loi Macron") comes back to higher tax incentives for free employee share awards. French Government promotes workers' cooperatives. The French Federation of Employee Shareholders' Associations publishes its 6th annual survey.
Spain: Main changes in the new legislation on employee-owned and participative companies.
UK: John Lewis Partnership profits tumble. Leading coach holiday operator Alfa Travel is now employee-owned.
USA: SeaDek Marine has announced that they have become an employee-owned company.
Results from the 24th Annual Economic Performance Survey of ESOP (employee stock ownership plan) companies show that ESOPs continue to see increased economic growth. The philosophy behind an Employee Stock Ownership Plan (ESOP) has three parts, according to ESOP advisors: broaden ownership of capital, create financial security and incentives, and urge better employee productivity.

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Marc Mathieu
Secretary General
Avenue Voltaire 135, B-1030 Brussels
Tel: +32 (0)2 242 64 30 - Fax: +32 (0)2 808 30 33
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EFES' objective is to act as the umbrella organization of employee owners, companies and all persons, trade unions, experts, researchers, institutions looking to promote employee ownership and participation in Europe.

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