EFES NEWSLETTER - OCTOBRE 2016
All
is well in Paris
It is true that France is still number one for employee
share ownership in Europe. All things are fine in
Paris, my fair lady.
However, what a drop since 2011! The democratization
rate of employee ownership fell from 45 to 37% and
the number of employee owners in France returned to
3 million (instead of 4 million if policies hadn't
been changed).
The imposition of a specific tax on employee share
plans ("forfait social") had a disastrous
effect. Not only in France but also by imitation in
several other European countries. Denmark is exemplary,
which removed all fiscal incentives for employee share
plans in 2011 (with a new social democratic government)
to restore them fully in 2016 (with a new conservative-liberal
government).
A good example to make things even better in Paris!
More information
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Risk
and performance of employee share ownership in France
ERES Group publishes outstanding results based on the analysis
of all broad-based employee share plans in large French
companies since 2006. After 5 years, employees having subscribed
to an employee share offering between 2006 and 2010 were
winners in 82% of cases (with the dividend, the discount
and the average employer contribution of 50%) while ordinary
shareholders would be winners in 60% of cases. What confirms
that employee ownership is to be ranked into the category
of "good risks". More
information
Press review
We have a selection of 38 remarkable articles in 10 countries
in September 2016: China, France, Germany, Italy, Netherlands,
New Zealand, Poland, Spain, UK, USA.
China: Employee share ownership under Central Commission
for Discipline Inspection.
France: Eres Group's analysis of employee share plans
in large French companies. New employee share plans for
Michelin, for Valeo. New ambitious plan to increase employee
share ownership at Essilor.
Germany: Siemens' ambition to increase employee share
ownership. Growing interest for employee ownership in German
SMEs.
Italy: New employee share plan for Prysmian.
Netherlands: While more and more European countries
promote incentive policies for employee ownership, The Netherlands
don't.
New Zealand: Drafting ESOPs in Asia.
Poland: The 26th Economic Forum of Krynica opened
doors for a legislation in Poland.
Spain: Employee-owned sociedades laborales
facing crucial questions.
UK: New firm turning to the Employee Ownership Trust
scheme in Scotland.
USA: A new set of remarkable research works about
employee share ownership and corporate performance. New
firms turning to employee ownership. When workers own shares
of their companies’ stock, business is better, pay is higher,
and job satisfaction soars.
La
revista de prensa esta disponible en:
http://www.efesonline.org/PRESS%20REVIEW/2016/September.htm
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