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EFES NEWSLETTER - APRIL 2024
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JUST
RELEASED
The
new "Annual Economic Survey of Employee Share Ownership
in European Countries" is just released
More information
in
partnership with
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Employee
share ownership in Europe in 2023
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Recent data on employee share ownership in Europe confirms
the major trends noted over the last ten years. Employee
share ownership in large European companies is deteriorating.
The main factor in this deterioration has now been clearly
identified.
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On the other hand, the dynamics of employee share ownership
in Europe are shifting towards SMEs. In just a few years,
the UK has established itself as Europe's number one
country for employee ownership in small and medium-sized
companies.
•
Why this falling off? It is a sign that employee share
ownership plans are becoming less and less effective.
The national fiscal policies that support them have
reached their limits.
• Overall, employee share ownership policies, because
they remained national, have lost 30% of their effectiveness
in a few years. This explains why recent legislative
efforts in several countries (Pacte Law in France, fourfold
increase of tax incentives in Germany) have not had
any significant impact on employee share ownership in
large companies.
Press
release
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Press
review
A
selection of 26 remarkable articles in 7 countries in March
2024: Belgium,
Finland, France, Italy, Japan, UK, USA.
Belgium: The practice is spreading of using a “private
foundation” to manage the ownership of a company, as can be
done elsewhere with an ownership trust.
Finland: Employee share funds have taken off in Finland.
France: How to extend employee ownership to SMEs in
France? New employee share plan for Riou Glass, first international
plan for Legrand. The success of workers cooperatives for
business rescue.
Italy: EssilorLuxottica, Unicredit, Prysmian, who else?
Employee share plans remain too rare in Italy.
Japan: Expanding employee ownership from the US to
Japan.
UK: Thanks to the Employee Ownership Trust scheme,
every day a new SME is transferred to employees. This month,
among others, the case of: Keppie Design, AC Plastics, Lingfield
Equine Vets, Parfitt Cresswell Law Firm, Frosts Landscape
Construction, Kinetics Controls, Fenchurch Law, E&O Laboratories,
Bettina Klimek Jewellers. Ten key questions answered about
Employee Ownership Trusts.
USA: ESOP bingo. After ESOP plans, Employee Ownership
Trusts are gaining ground in the US.
The full press review is available
on:
https://www.efesonline.org/PRESS
REVIEW/2024/March.htm
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A
political roadmap for employee ownership in Europe
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