Subscribe  /  Unsubscribe  /  Membership                                                      


The new "Annual Economic Survey of Employee Share Ownership in European Countries" was released on March 8.
More information



in partnership with

Annual Survey of Employee Ownership in Europe in 2016

The European Federation of Employee Share Ownership (EFES) released the new "Annual Economic Survey of Employee Share Ownership in European Countries" on March 8.

Employee share ownership is growing across Europe. The ownership stake held  by employees in large European companies has never been so high before, with 3.20% in 2016 compared to 2.48% in 2006. This growing average means that, even among largest European companies, the employees' ownership stake is significant, strategic or even controlling in many cases.

The Survey is based on the 2.335 European listed companies of significant size in 2016. All together, this was a stock market capitalization of 10.147 billion Euro in 2016, or 99% of the whole European stock market capitalization and 95% in terms of employment. These 2.335 companies give thus an exhaustive picture of all European listed companies.

Among these companies, the employees' ownership stake was "significant" in 1.220 or 52% of them (employees holding 1% or more), it was "strategic" in 464 or 20% of them (employees holding 6% or more) and it was "controlling" in 266 or 11% of them (employees holding 20% or more). These figures are considerable.

Many remarkable cases can be pointed out among European companies, even the largest, considering employee ownership. For instance Voestalpine - steel industry in Austria - with 48.000 employees holding 14.5% or 721 million € in 2016, Saint-Gobain - building materials in France - with 170.000 employees holding 8.1% or 1.788 million €, Veidekke - heavy construction in Norway - with 7.000 employees holding 15.4% or 241 million €, Svenska Handelsbanken in Sweden with 12.000 employees holding 10.3% or 2.082 million €, Mondragon Corporación - multisectoral in Spain, with 74.000 employees holding 89.9% or 4.026 million €, Siemens in electronics in Germany with 348.000 employees holding 3.1% or 2.532 million €, Prysmian in wire and cable industry in Italy with 19.000 employees holding 2.5% or 115 million € in 2016.

In most of these companies, employee ownership is the result of employee share plans with some common characteristics: They are for all employees, on voluntary base, price discount and fiscal support, annually offered, and having to cope with different rules and tax legislation in each European country. Representation and participation in corporate governance is even more complicated and it can be found mainly in those countries where it is foreseen in dedicated legislation.

Marc Mathieu, Secretary General of the EFES said: "Voestalpine is certainly one of the most remarkable cases in Europe considering employee ownership and participation in corporate governance."

Press review
We have a selection of 28 remarkable articles in 9 countries in February 2017: Australia, Canada, France, Germany, Italy, Netherlands, Poland, UK, USA.
Australia: Does employee ownership make companies more successful?
Canada: There is a pronounced inconsistency in how stock options were used historically and how they are used today.
France: Big change for Orange: For the first time, employee shareholders' representatives will be (partly) elected. New stories from workers cooperatives.
Germany: Employee shareholders in Germany declined from 1,3 million in 2012 to 1,1 million in 2016.
Italy: Prysmian: 50% of all employees hold shares of the company. Employee shareholders will have a significant position in the new Essilor-Luxottica Group.
Netherlands: More and more startups are offering employee ownership schemes.
Poland: Vice-Prime Minister Morawiecki promotes the ESOP in Poland - Skeptics are at the rendezvous.
UK:  Involving employees at a senior decision-making level can deliver significant benefits to a business. Some new firms turning to the Employee Ownership Trust scheme.
USA: "Having a Stake: Evidence and Implications for Broad-based Employee Stock Ownership and Profit Sharing" - the new paper due to Joseph Blasi, Douglas Kruse and Richard Freeman. In their new book, “How Did Employee Ownership Firms Weather the Last Two Recessions?,” economists Fidan Ana Kurtulus and Douglas Kruse link company-level data on employment and financial performance to data on employee ownership for all publicly traded U.S. firms. Numerous new firms turning to ESOPs.

The full press review is available on:

Your support

Amount in Euro:

A political roadmap for employee ownership in Europe

The EFES needs more members. Download the EFES membership form

What's new on the EFES website?

EFES NEWS distribution: 200.000















   With best regards



Marc Mathieu
Secretary General
Avenue Voltaire 135, B-1030 Brussels
Tel: +32 (0)2 242 64 30 - Fax: +32 (0)2 808 30 33
Web site:
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 share ownership and participation in Europe.

un compteur pour votre site