This paper, presented at the Rutgers-Oxford Employee Ownership Research Symposium in 2023 held at Kellogg College, University of Oxford, discusses the current state of employee ownership research and where it needs to go. The paper is written in an informal manner where the authors write in the first person.
This teaching case study explores the dynamics and evolution of employee ownership in HDR, a large multinational professional services firm. Broad-based employee ownership has strong affinities with professional services firms, whose success largely depends on the knowledge and capabilities their employees bring to their work. As HDR grew and expanded internationally, it had to address … Read More
This research presentation was hosted by the Federal Reserve Bank of New York, in partnership with the Ford Foundation. The event explored how some companies are seeking to increase low- and moderate-income workers’ wealth through investments in ownership and employee benefits. Focus was on how efforts to improve the wealth of low- and moderate-income workers … Read More
With fifty successful years behind Acadian Ambulance Service, now known as Acadian Companies, the focus was clearly on the future. The company had a history of steady organic growth and external growth through strategic mergers and acquisitions. The company now was comprised of six successful and profitable divisions, all synergistic but unique in their management … Read More
MyPath grew steadily since its inception in 1984 in an industry rife with regulations and oversight. Navigating the healthcare landscape and advocating for its disabled patients became a hallmark of the organization. Through the years, a strong culture emerged thanks in part to employee ownership which contributed to a ‘can-do’ attitude found at all levels … Read More
Wilson Senior Care enjoyed stability and growth in the skilled nursing industry in South Carolina beginning in 1947 and through to the present day. The company has evolved into an award-winning provider of rehabilitation and nursing services for patients coming from acute care and for the elderly. The ownership-mentality of the employees, stemming from the … Read More
Telecare, a mental health provider founded on respect and recovery, celebrated its 50th anniversary in 2015, and by 2018 it was focused on future growth. Workforce development was a key factor, and the management team had developed a well-researched plan which was authored and supported at the highest levels of the organization. It encompassed a … Read More
EA is a 100% employee-owned public benefit corporation that provides environmental, compliance, natural resources, and infrastructure engineering and management solutions to a wide range of public and private sector clients. Headquartered in Hunt Valley, Maryland, EA employs more than 500 professionals through a network of 25 commercial offices across the continental United States, as well … Read More
There has been a great variety of employee ownership models in Europe. Some of the best examples are Marcora in Italy, Sociadades Laborales in Spain, Le FCPE de Reprise in France, and many unregulated ad hoc models set up by individual owners without any institutional support. None of those models, however, offers an effective and … Read More
The purpose of these chapters (Parts 1 and 2) is to show why and how one firm integrated Servant Leadership, among other initiatives, into its growing socially responsible culture, through the eyes of its designing CEO. The firm is a 50-year-old, US nationwide environmental consultancy, which is now 100% employee-owned and a legal “public benefit … Read More
We continue to fail to adequately compensate most essential workers even as corporate profits remain high and wealth inequality and race and gender wealth gaps persist. Employee ownership has continued to emerge against this backdrop and across party lines as a potential strategy for building an economy where prosperity is more equitably shared. Awareness about … Read More
This Kent State University course is motivated by the broad question: what role can workplace democracy and employee ownership play in creating an economy that works for all? Workplace democracy and employee ownership take a multitude of forms and are receiving renewed attention from public officials, the business community, social movement leaders, and academics. Nearly … Read More
Wages don’t cover the bills. Wealth inequality is growing. Social trust is eroding. There are endless debates about what to do, but one key factor is inexplicably left out: who owns the companies that drive the economy? Ownership matters. Ownership by a few means benefits for a few. But if you spread ownership around, you … Read More
The field of broad-based employee ownership within corporations is a specific application of the foundational topic of property ownership. It is situated at the intersection of a broad range of scholarly disciplines including economics, law, finance and management. Each discipline contributes vocabulary and distinctions describing this field. That broad spectrum of disciplinary inquiry is a … Read More
Purpose This study investigates whether broad-based employee ownership (BBEO), in isolation and in conjunction with cash profit sharing (CPS), can enhance labor productivity in family firms over nonfamily firms. Design/methodology/approach Hypothesis testing was conducted using cross-sectional time-series regression with a matched sample of 393 family and nonfamily firms listed on the US S&P 500 over … Read More
Are you considering starting an Employee Stock Ownership Plan (ESOP) or converting your company to an ESOP? Or maybe making the big leap to a 100% employee-owned company? If you want your company to perform at its absolute peak and you want the people who make that happen (you included) to receive the ultimate financial … Read More
Employee ownership has attracted growing attention for its potential to improve economic outcomes for companies, workers, and the economy in general, and help reduce inequality. Over 100 studies across many countries indicate that employee ownership is generally linked to better productivity, pay, job stability, and firm survival—though the effects are dispersed and causation is difficult … Read More
From orphan to owner and then finally deciding to secure his legacy and transition his company to an ESOP, the founder of Mid South Building Supply, Norman Rales, had a monumental impact on the future of his company and the people who work there. Hear from the new owners (the employees) about how being an … Read More
You may recognize him from the cover of your favorite flour or oatmeal, Bob Moore, founder of Bob’s Red Mill, based in Portland, OR, tells the story of his company’s transition to employee ownership through an ESOP.
Hear the story about how one of the first craft breweries in the nation became one of the most successful employee owned breweries in the world. Most business owners know that there are three options when planning for retirement. One, they can sell their business. Two they can, pass the business to a member of … Read More
What happens when the founder of a business retires? How can they keep their legacy in tact? If you’re a business owner or executive, and you’re looking at business succession options, consider selling your business to your employees and reap the benefits.
What is an ESOP and how do business owners decide to transition ownership of their business, and often their life’s work, to their employees? Most business owners know that there are three options when planning for retirement. One, they can sell their business. Two they can, pass the business to a member of their family. … Read More
In this video a group of professional advisors discuss how employee owned companies with an Employee Stock Ownership Plan (ESOP) are structured.
Despite substantial scholarly attention to workforce demographic diversity, existing research is limited in understanding whether or in what contexts firm-level racial diversity relates to performance and workforce outcomes of the firm. Drawing on social interdependence theory along with insights from social exchange and psychological ownership theories, we propose that the use of broad-based stock options … Read More
This paper analyzes participation decisions in employee stock purchase plans. These plans allow employees to buy company stock at a discount from the market price and resell it immediately for a sure profit. Although an average employee stands to gain $3,079 annually, only 30% of individuals take advantage of this risk-free opportunity. Participation is more … Read More