Here is   
Last update: 17.06.2009   




ome, this is the EUROPEAN FEDERATION OF EMPLOYEE SHARE OWNERSHIP (EFES). EFES acts as the umbrella organization of employee owners, companies and all persons, trade unions, experts, researchers, institutions looking to promote employee ownership and participation in Europe. EFES was recognized by the European Commission (DG Enterprise and Industry) as European Business Representative Organization in the field. This site is basically written in English but for detailed info is multilingual:


 What's new on this website since your last visit ?

Eighth European Meeting of Employee Ownership - Brussels 18 May 2009  
Employee ownership and the financial crisis. Annual Economic Survey of Employee Ownership in European Countries in 2008. Witnesses from various countries. Manifesto for the 2009 European Parliament Elections. More information

Annual Economic Survey of Employee Ownership in European Countries in 2008  
The new Annual Survey for year 2008 shows that employee ownership declined a bit on the threshold of the financial crisis. Assets held by employee owners fell to 240.2 billion Euro in 2008, compared to 283.3 billion in 2007 (-15.2%). However, this was still much more than the 206.2 billion in 2006. As a percentage, employees' share stabilized on 2.63% in the capital ownership structure. Considering recent trends, employee ownership is going to double within the next 5-10 years.
Each European country can easily be compared to others regarding employee ownership in 2008, thanks to a set of 10 graphs, using fully comparable information.
More information and downloads

Manifesto for the 2009 European Parliament Elections
150 Members of the European Parliament and candidates from all political parties answered our Manifesto for the European elections. The last ten years saw a strong development of employee ownership in European companies. Strangely, this happened while a European policy for the promotion and the development of employee ownership was completely lacking. It is time to reconsider things and to relaunch a real European policy. This is a role for the new European Parliament. Detailed information

A political roadmap for employee ownership in Europe
A political roadmap for Europe was proposed in the framework of the French Presidency of the European Union. Detailed information

The European Employee Ownership TOP 100 rankings in 2007

The European Employee Ownership TOP 100 is designed with respect to two rankings of Europe's largest companies, considering employee ownership. Full information

New EFES call to the Governments of the European Union (May 2007)

A recent study funded by the European Commission enlightened the fact that 89% of all 2.000 widest European Groups (29 millions employees) have employee share ownership and 83% have plans to develop it more.
These Groups consider employee share ownership as one of the best ways for aligning employees and shareholders interests, motivating people, improving corporate performances and giving people the chance to share better corporate results.
They are used to offer annual share plans to their employees in all possible countries.
Unfortunately, the main obstacle in development of their common human resources policy is the lack of proper legislation in several Member States. This situation causes discrimination between their employees - people from various countries, and put a brake on their  development and investments abroad.
This is why we would like to trigger discussion about the most effective legislation. Our aim is to encourage all governments to introduce a dedicated legislation, allowing the following employee share plans, as the most used across the world, in the European Union and the United States as well:
   -  Employee Stock Purchase Plan, possibly annual
   -  Discount rate 20%, free of tax and social security, up to 10% of annual gross salary (or 5.000 Euro annually)
   -  Blockage period: 3 years (through deferred stocks, blocked stocks or options with vesting period).

 Real cases
Employee ownership, what it is, really.  Multiple schemes in all countries, for small and medium sized companies as well as for biggest corporations. Specific models for companies all along their life: creation, development and maturity, transmission, rescue. More information

 Going to a true ambitious policy of the European Union
The main recent progress in the European Institutions.
More information

CEEEONet - Central and Eastern European Employee Ownership Network

EFES Forum
All contributions and EFES discussions about European Union policies, EFES responses to EU consultations, etc.
More information

 European Programme EOLE (Employee Ownership Learning & Education)
European Programme for training and education for employee ownership and financial participation of workers.
More information

 EFES call to the European Parliament, to the European Commission and to all Governments of the European Union (2004)
In 1998, when the European Federation of Employee Share Ownership was set up, it was said that some 10% of American employees held shares of their enterprise; they are now 23,3%. Some weeks ago, the Australian Government launched a programme to double employee share ownership in Australia, from 5,5% of employees today to 11% in 2009.
Today, performances studies have multiplied and we can now consider with no doubt that when it is practiced in good conditions, employee ownership brings to enterprises a gain of performances estimated at 2% of additional annual growth on average.
On the European Union scale, this would represent millions of additional jobs. In this way the development of employee ownership could be an important factor for the Lisbon Strategy.
Today, we are far from a European awareness and a strong mobilisation. Scepticism or indifference still dominate in many European countries. The contrast is obvious in comparison with the United States, Australia and other parts of the world. A political willingness of the European Union has still to crystallize.
We recommend that Europe gives itself a voluntary objective of industrial policy : reach 10 % of employee ownership in the whole European Union in 2010. In this way, a whole combination of means have to be implemented at the Union level, in the Member States and in the regions.
We particularly insist on the followings :
1. The implementation of a community organ (agency ? institute ? committee ?) for the promotion and the development of employee ownership. In this way, we applaud the proposal of the European Commission Experts Group, chaired by Jean-Baptiste de Foucauld, to install a European Committee for Financial Participation of Workers.
2. An adapted legislation must be applied in each country of the European Union. In this way too, we applaud the proposals of the Experts Group of the Commission chaired by Jean-Baptiste de Foucauld.
3. Enterprise transfer and salvation of failing enterprises are situations where employee ownership has proved its worth (the Spanish sociedades laborales being a good example). Employee buyouts schemes should get particular support. These formulas are not only to be supported for themselves but also because they are favourable to the diffusion and promotion of employee ownership, in all enterprises of the Union's countries.







For information and contact
Avenue Voltaire 135, B-1030 Brussels
Tel/fax: +32 (0)2 242 64 30
Web site:
EFES' objective is to act as the umbrella organization of employee owners, companies and all persons, trade unions, experts, researchers, institutions looking to promote employee ownership and participation in Europe.