EFES NEWSLETTER - JUNIO 2017
of employee ownership policies in European countries
Eighteen European countries now have policies for
the promotion and development of employee ownership.
This number had never been higher before.
Except in France, all recent policy developments in
Europe pave the way towards higher incentives for
employee ownership. Norway doubled fiscal incentives
on 1.1.2017. Poland prepares dedicated legislation.
Ireland announces a new share incentive scheme for
SMEs to be introduced in 2018, as well as The Netherlands
with a favorable tax treatment of stock options for
employees of innovative start-ups. These
new developments confirm the positive trend observed
On the other hand, hesitation dominated in France,
where the outgoing government suppressed in 2017 the
positive provisions introduced by the Macron Law eighteen
months earlier. This explains the relapse of the barometer
in 2017. The
negative political decisions of France since 2009
unfortunately influence the performance of the whole
of Europe. In France, they are at the origin of the
heavy fall in the rate of democratization of employee
ownership, the number of employee shareholders being
reduced to three million compared with four million
with unchanged policy.
Employee ownership and economic well-being
Employee Ownership —employees owning stock in the
companies where they work—is a major aspect of the
U.S. economy. But until now, little research has explored
its impact on individual workers.
A new research on "Employee
Ownership and Economic Well-Being" due to
the NCEO in the USA presents some of the first in-depth
analysis of the relationship between employee ownership
and workers’ economic well-being.
The findings of this research are remarkable. Employee
ownership is a market-friendly, anti-inequality policy
that improves outcomes for companies and provides
workers with higher wages, more generous benefits,
and greater job stability. In short: Employee-owners
lose less sleep over their financial future. More
We have a selection of 28 remarkable articles in 8 countries
in May 2017: Austria, Belgium, Finland, France, Germany,
Italy, UK, USA.
Austria: Wienerberger will set up an employee ownership
Belgium: Both Government and Ecologist Party plan
to promote employee ownership in SMEs.
Finland: Personnel funds in Finland: State of play.
France: New employee share plans for Ingenico, for
Valeo. Employees become majority shareholders of GA Group.
Workers coops competing with Uber. New employee shareholders'
association for Carrefour.
Italy: Ideas about corporate governance.
Spain: Employee-owned sociedades laborales
have been hard hit by the economic crisis.
UK: Employee ownership for family businesses - advantages
& myth busting. Fresca Group to become majority employee-owned.
Childbase will move from individual share ownership to an
Employee Ownership Trust.
USA: Workers at employee-owned business more optimistic
than other workers. New firms turning to ESOPs. Legislative
package introduced to encourage employee-owned companies.
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