EFES NEWSLETTER - DECEMBER 2012

A new wave for employee ownership across Europe
A new wave boosting employee share ownership seems growing from major European countries. Great Britain: Employment Relations Minister Jo Swinson told that the British Government will do all in its power’ to extend employee share ownership substantially within the UK. "We have to eliminate the barriers which inhibit the installation of employee share schemes and employee ownership in UK businesses", she said. "Over the years employee ownership and employee share ownership have not been nearly as far up government agendas as they should have been. For the workforce is our human capital and must be encouraged accordingly", said Ms Swinson. "Much more employee share ownership was needed now in large and small companies alike, because such schemes were an important factor in economic growth" the minister told to the Employee Share Ownership Center in London. France: President François Hollande announced a new legislation for employee share ownership and participation. Germany: As promised by Minister Philipp Rösler, the German Ministry of Economics and Technology launched a new Internet portal for employee ownership. Italy: Waiting for a new law on participation and employee ownership. The Parliament appointed the Government at the end of June, but the white smoke is still awaited in Rome.

Press review
We made a selection of 40 remarkable articles in 7 countries in November 2012: France, Germany, India, Italy, Malaysia, UK, USA.
France: New employee share plan for Vallourec and for SEB. White Book for individual and employee share ownership. Following the new French Government's Pact for Growth, employees will have to be represented on Boards. Some 30 employee buyouts as workers cooperatives in France annually. Minister Benoît Hamon will boost employee ownership through workers cooperatives. President François Hollande announced a new legislation for employee share ownership and participation.
Germany: The German Ministry of Economics and Technology launched its new Internet portal for employee ownership.
India: Starbucks breaks tradition, no employee stock options for staff in India.
Italy: Still no law on participation and employee ownership. The Parliament appointed the Government at the end of June, but nothing came out. DirCredito takes a position in favour.
Malaysia: Employee share option schemes need governance.
UK: Independent cash-and-carry retailer AG Parfett and Sons has been an employee-owned business since 2008, having been family-run previously. The start of a new decade for employee ownership in private and small and medium-sized companies.
USA: The ESOP Association is proud to announce the launch of its newly re-designed website: www.esopassociation.org  An employee stock ownership plan (ESOP) provides a company's workers with an ownership interest in the company. In an ESOP, companies provide their employees with stock ownership, typically at no cost to the employees. Shares are given to employees and are held in the ESOP trust until the employee retires or leaves the company, or earlier diversification opportunities arise.

The full press review is available on:
              http://www.efesonline.org/PRESS REVIEW/2012/November.htm 

A political roadmap for employee ownership in Europe

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