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EFES NEWSLETTER - APRIL 2011
Employee
ownership was continuously progressing across Europe since
the financial crisis
The
number of employee owners was nearly 10 million in 2010
in large European companies (out of 32.6 million employees).
The number of companies that have employee ownership was
increasing (91.7%), as well as those having share plans
for all employees (53.7%) and those with stock option plans
(64.1%).
However, significant differences can be seen between countries:
A significant increase in the number of employee owners
in Spain, Poland, France and the Nordic countries (Denmark,
Sweden, Norway, Finland), contrasting with a significant
decrease in Belgium, Ireland and The Netherlands.
Overall, the capitalization held by employee owners rose
back to 192 billion Euro in 2010. In % held, there was a
slight decline for the first time for many years (from 2.82%
to 2.71%). However, the share held by Top Executives has
increased, while it is the "common" employees
who have seen their share shrink.
All details are to be published in May in the next "Economic
Survey of Employee Ownership in European Countries in 2010".
Download
Press
review
Much new information about employee ownership in March
2011, with 1.567 articles in this press review (on which
561 involving stock options and 475 about workers' cooperatives).
We made a selection of 38 remarkable articles in 10 countries:
Austria, Canada, France, Germany, Ireland, India, Italy,
Poland, UK, USA.
Austria:
New employee share plan for Erste Bank.
Canada:
Desjardins will intensively promote business transmission
through workers coops.
France:
Business transmissions are multiplying through workers coops.
France pays interest for John Lewis. New employee share
plans for Total, Saint-Gobain, Schneider Electric. Employees
hold 16% in Safran.
Germany:
Klaus Zimmerman points out the need for more employee ownership
in Germany.
India:
New stock option plans in public sector companies.
Italy:
Employee ownership should be promoted all around Europe.
Poland: Struggles over employee privatization in
coal mines.
UK:
John Lewis staff celebrate their bonus payments: Staff at
the employee-owned partnership will each receive a bonus
worth an average of more than nine weeks' pay. The old gripe
about John Lewis from rival retailers used to run like this:
The partnership model is very admirable, and undoubtedly
pleasant for the bonus-happy staff, but it doesn't actually
deliver commercial returns. However, being an employee-owned
business allows John Lewis to gain an advantage by taking
a long view. Minister Francis Maude has predicted that by
2015 up to one million current public sector workers will
be employee owners in public service mutuals. The UK Employee
Ownership Index has to be more transparent.
USA:
A number of tax benefits make ESOPs a compelling choice.
The National Center for Employee Ownership will launch the
ROOF Fund with the mission to fund research, education,
and innovation to expand ownership opportunities for employees.
Should Publix, the largest employee-owned super market chain,
go public? The ESOP Association expresses strong support
for the "Promotion and Expansion of Private Employee
Ownership Act of 2011," introduced by a bi-partisan
group of key members of the Congress.
The full press review is available
on:
http://www.efesonline.org/PRESS
REVIEW/2011/March.htm
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