EFES NEWSLETTER - MARCH 2018
new "Annual Economic Survey of Employee Share Ownership
in European Countries" was released on March 8.
in partnership with
Record Year for Employee Share Ownership in Europe
is a new record year for employee share ownership in
Europe, with nearly 400 billion Euro held by employees
in their company or 3.20%. 86.6% of all large European
companies have employee share plans. Their number increased
by 3 to 4% on average each year since 2006, a solid
growth. The rise is back for the number of employee
shareholders, with 7.5 million people in large European
companies. By adding one million employee shareholders
in SMEs, the total figure reaches 8.5 million. And the
decline in the democratization rate of employee share
ownership has been stopped, a remarkable result due
to the positive policy choices made in many countries.
In addition, the imbalance
ceased to widen between European countries.
the crisis, some European countries (including the UK)
had chosen for stronger incentive policies, promoting
employee share ownership and long term savings as an
investment for the future. Instead of that, some other
countries (including France) had chosen to reduce public
spending and to support household consumption, while
incentives for long term savings and for employee share
ownership were sacrificed. This had a strong impact
on the democratization rate of employee share ownership
the negative phase from 2009 to 2013, policy decisions
are positive again in most European countries. The democratization
rate stabilized in Europe and both in the UK and on
rebound can even be observed in France following the
"Macron Law", with 37% of all employees holding shares
in large French companies in 2017. This illustrates
the high elasticity of employee share ownership to fiscal
incentives in France.
We have a selection of 22 remarkable articles in 7 countries
in February 2018: France, Germany, Hungary, Italy, Morocco,
France: French Governments confirms the will to boost
employee share ownership policy. New employee share plan for
Engie. Good and bad days for workers cooperatives in France..
Germany: Cewe Group: 81% of employee shareholders amongst
3.500 employees. Germany remains dramatically reluctant to
Hungary: Herend Porcelain Manufactory is still a leading
figure of employee share ownership in Hungary.
Italy: Assonline is the employee shareholders association
of Italiaonline Group.
Morocco: Employee share plan for Airbus.
UK: Jerba Campervans sold to an Employee Ownership
USA: Numerous new firms turning to ESOPs. New Belgium
will cut 4% of its workforce. ESOP companies go bankrupt much
less often than non-ESOP companies, - unfortunately, Appvion
is not one of them. Beneficiaries of employee share plans
call for financial wellness programs — which would provide
education, tools and resources to help with their overall
The full press review is available
political roadmap for employee ownership in Europe
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