SURVEY OF EMPLOYEE SHARE OWNERSHIP
IN EUROPEAN COUNTRIES IN 2018
main findings of census 2018
more than 100 tables and graphs
democratization rate in various countries
list of all most remarkable companies
ordinary employees and top executives
employee representation on boards
discrimination in voting rights
and much more
just a sample but an exhaustive picture based
on the EFES database (the 2.750 European companies
gathering 95% of employment in all European
in partnership with
record year for employee share ownership in
Europe in 2018
New record year for employee share ownership
in Europe, with nearly 400 billion Euro held
by employees in their company or 3.11%.
and more European companies are organizing
employee share plans. In 2018, 94.2% of all
large European companies had employee share
ownership, on which 87.3% had employee share
plans of all kinds, while 52.3% had "broad-based"
plans for all employees, and 62.3% had stock
option plans. Their number increased by 3
to 4% on average each year since 2006, a solid
growth. Finally, 33.4% of all large
European companies launched new employee share
plans, a proportion that increases from year
rise is back for the number of employee shareholders,
with 7.5 million people in large European
companies; if we add one million employee
shareholders in SMEs, the total figure reaches
the decline in the democratization rate of
employee share ownership has still to be stopped.
the crisis, some European countries (including
the UK) had chosen for stronger incentive
policies, promoting employee share ownership
and long term savings as an investment for
the future. Instead of that, some other countries
(including France) had chosen to reduce public
spending and to support household consumption,
while incentives for long term savings and
for employee share ownership were sacrificed.
had a strong impact on the democratization
rate of employee share ownership in Europe
(the proportion of employee shareholders amongst
all employees), leading to a divorce between
continental Europe and the UK. A sharp drop
below 20% was observed on the continent. On
the contrary, the democratization rate had
risen to more than 25% in the UK.
the negative phase from 2009 to 2013, policy
decisions are positive again in most European
countries. This led to a rebound of the democratization
rate to 38% in France following the "Macron
Law", illustrating the high elasticity
of employee share ownership to fiscal incentives.
negative factors are still prevailing in some countries.
Germany gives the picture of the dramatic impact
of such policies on the democratization rate of
employee share ownership, with less than 13%.
the other hand, the UK and France are the only European
countries showing a recent but significant positive
dynamics of the majority-employee-owned sector.
The number of such companies increased from 36 in
the UK in 2014 to 80 in 2018, mainly due to the
impact of the new Employee Ownership Trust scheme
implemented in 2014. In France, it is mainly due
to the multiplication of combined Management and
what a great work. Congratulations. That's
very helpful for our activities!"
vi invio la mia tesi magistrale sull'azionariato
dei dipendenti in Italia e vi ringrazio perché
dal vostro lavoro ho potuto prendere spunti
thanks to you and your hard work, and your
wonderful reports - I am an associate professor
now, so thank you very much for your help.
Now I am preparing this version in English,
so I try to put the most recent data."
really great work! Congratulations and thank
you. I think the survey is very helpful for
the discussion here in Germany. We will publish
it on our homepage and distribute the paper
in our network. Best wishes"
pour ce travail récurrent si précieux !"
work ! Thanks and congratulation".
sommes en phase de finalisation du texte concernant
une saisine au CESE en France. Votre publication
pourrait nous être fort utile."
gracias por la información y felicitaciones..."
"I would be very eager to update my analysis
based on new data."
you provide data on individual companies,
e.g. in an excel spread sheet, so we can see
which companies have stock options? This would
be very useful for our statistical analysis."
votre soutien précieux, en m'aidant à constituer
la base de données statistiques ayant permis
la réalisation des deux études quantitatives
longitudinales de l'impact de l'actionnariat
salarié sur la performance des grandes entreprises
françaises cotées, ma thèse n'aurait pas pu
voir le jour."
of employee ownership in European companies
The data are
available for analysing companies, for benchmarking,
for market research, as well as for research work
and teaching, and for macroeconomic analysis. The
database gathers economic and financial information
about employee ownership in the 2.750 largest European
companies, including listed and non-listed companies.
European Employee Ownership Top 100
European Employee Ownership TOP 100 is designed
with respect to two rankings of Europe's largest
companies, considering employee ownership. In the
EUROCAP100 ranking, companies are ranked by equity
held by employees, in million Euro. In the EUROEMP100
ranking, companies that are 50% or more employee-owned
are ranked by number of employees. Both rankings
are published in the Economic Survey.
Each European country can easily be compared to
others through a specific country file, using a
set of 10 graphs, using fully comparable information,
for instance: France
information and contact
EFES - EUROPEAN
FEDERATION OF EMPLOYEE SHARE OWNERSHIP
FEAS - FEDERATION EUROPEENNE DE L'ACTIONNARIAT SALARIE
Avenue Voltaire 135, B-1030 Brussels
Tel: +32 (0)2 242 64 30 - Fax: +32 (0)2 791 96 00
Web site: www.efesonline.org
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