This book argues for the abolition of the current employment system in favor of workplace democracy. The abolition of slavery abolished not only the involuntary ownership of other people (workers) but also voluntary contractual forms of lifetime servitude. That system of lifetime servitude was replaced however by the current system of voluntary renting, hiring, employing, … Read More
Job quality has received increased attention from academics and policy makers across industrialized countries. Yet, there has been limited assessment of how job quality is impacted by different organizational forms, including cooperatives and employee-owned businesses (EOBs). Although there has been growing interest in how cooperatives/EOBs impact on employee outcomes, comprehensive assessments of the range and … 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
Stakeholder capitalism seeks to benefit multiple stakeholders, rather than primarily shareholders. Two increasingly popular forms are the employee stock ownership plan (ESOP) and the benefit corporation. But what happens when a company combines these structures? While the benefit corporation’s expanded stakeholder mandate may appear to come at the expense of employee-owner wealth and the potential … Read More
This study highlights how a mismatch between an organisation’s goals and its legal form and structure can develop over time, and how a hybrid model may present a solution. This longitudinal qualitative study details the hybridising process by which a traditional for-profit company transformed into an employee-owned benefit corporation: the company implemented ownership and control … Read More
This significant new study shows that majority employee-owned companies with Employee Stock Ownership Plans (ESOPs) are outperforming non-employee owned companies during the COVID-19 pandemic in the areas of job retention, pay, benefits, and workplace health safety. The study reveals that ESOPs have been more proactive about ensuring the safety of employees during the pandemic and … Read More
The most fundamental tragedy of the coronavirus crisis is human. It is lives being lost. Somewhere close behind is the feeling of desperation shared by working people. In an economy where it is estimated that 50 percent of the labor force survives from paycheck to paycheck, we are facing an economic crisis of unprecedented proportions that exposes a fundamental flaw in our widely accepted idea of the relationship between working people and their places of work.
Here, Employee-Owned S Corporation of America (ESCA) provides a variety of videos focused on Employee Ownership, including videos capturing “Faces of Employee Ownership,” videos featuring specific companies, and short introductory and informational videos.
Drawing on social identity theory, this research frames a multimediational model that delineates how broad‐based employee stock ownership (BESO) and employee‐perceived involvement practice in tandem yield a productive workforce at the organization level. In our theoretical model, we propose that social cohesion and voluntary turnover are collective attitudinal and behavioral outcomes resulting from the shared … Read More
Estimated Number of Plans and Employees; Value of Plan Assets.
While all kinds of businesses become employee stock ownership plan (ESOP) companies, there is a large percentage of engineering firms that have chosen the ESOP structure. Why so?
This presentation discusses five myths surrounding employee ownership…
Over the years, the NCEO has reported on new research on employee ownership and corporate performance. Now that a substantial body of work exists on the subject, they thought it would make sense to summarize it in one place.
There are now over 25 million employees who own stock in their companies through employee stock ownership plans (ESOPs), broadly granted stock options, or 401(k) plans with heavy concentrations of employer stock.
Why a low-cost program to educate employees about company ownership could produce huge financial benefits for the country.
This research report from the United Kingdom shows that the arrival of millennials in the workplace is not a threat to the employee owned business model. On the contrary, employee ownership works well to meet the aspirations of millennials, as it does for other generations. The ability of the employee ownership model to harness the … Read More
Last May, we introduced you to a new effort aimed at spreading the word about employee ownership at local and regional levels throughout the country. Building on pioneering efforts in Ohio and Vermont, the idea of proliferating state centers throughout the U. S. was initiated by the National Center for Employee Ownership (NCEO)…
In December, my family finalized a very personal, and we hope impactful, gift titled, J.R. Beyster Papers, to UCSD Library’s Special Collections. After about one year of pre-processing, the collection includes more than 200 boxes of documents covering more than 50 years of hundreds of advanced scientific innovations, small- to billion-dollar business experiments, and discontinued to transformational government program development.
In 1993, Mack Hembree, a successful real estate businessman, was invited to invest in opening a business that he had some commonly held reservations about. The business was a pawn shop… By fostering and aligning employee satisfaction, collaboration, and commitment at every level, Mack has developed an ownership culture that differentiates Gems N’ Loans from its peers and has been instrumental in the company’s success.
Two major shifts in contemporary work organizations—“employee participation” and “diversity management”—have typically been studied in isolation from one another. Building on theoretical work by Acker (2006a,b), we ask how the interaction of these two constructs has affected the pursuit of workplace democracy at two worker cooperatives in Northern California. Using qualitative methods, we find that … Read More
In this paper, we first examine whether Huawei has an advantage over ZTE following the strategic restructurings in 2011, and then retest the hypothesis on the positive effect of an ESOP on Huawei’s competitive position…
MONDRAGON, the largest cooperative in the world, and the inspiration for several U.S. cooperatives, faces a challenge in 2013 after one of its largest cooperatives votes to leave the group and another goes bankrupt.
For the last several years, there has been a constant and very predictable discussion taking place regarding the sustainability of ESOP companies…
To survive, Atlas changed from an external to an internal growth strategy. The smoothness of the transition could at least be partially attributed to a set of internal strategies that were unusual for a commodity/cost-driven industry. They included democratic governance and employee ownership…
Two of the most common industries to have established ESOPs are construction and manufacturing, combining to make up 35 percent of the 1,600 companies represented by the ESOP Association…