Listed and non-listed companies It was sometimes told, based on the observation of specific examples, that non-listed employee-owned companies could have been more resilient than others through the financial crisis. Employee-owned companies might have fared better. This idea is even a cornerstone of the British Government’s policy to build a wide “employee-owned business sector” in the UK. The picture is not the same when based on the systematic comparison of all large listed companies and all large non-listed employee-owned companies in Europe. The graph hereafter illustrates this through the case of employment in both types of companies from 2006 to 2013. A detailed chapter about this can be found in the European Survey of Employee Ownership in 2013. More information Download
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EUROPEAN SURVEY 2013 The whole information about employee ownership and employee share plans, top executives and common employees in European companies, corporate governance and profit-sharing, employee representation on boards and discrimination in employee shareholders’ voting rights, and a comparison between listed companies and non- listed employee-owned companies. 150 pages, 100 tables and graphs. More info
Press review We have a selection of 19 remarkable articles in 5 countries in March 2014: France, Spain, Sri Lanka, UK, USA. France: Central role for employee share ownership in Bouygues in case of a takeover on SFR. New employee share plan for Natixis. New governance for Peugeot, including both employees’ and employee shareholders’ representations on board. Cancela is a successful workers’ cooperative in the building industry. Spain: The crisis of Mondragon, in search for new strategy. Decisive hours. Sri Lanka: Voting rights of employee share ownership plans (ESOPs) will have to go to the workers themselves from 2015. UK: “As the UK government gets ready to introduce tax exemptions for employee ownership trusts, it is great to see the staff choosing this model.” The government moves to double the sharesave monthly savings limit from £250 to £500, but who is likely to take advantage of the new limits? Worker-owned firms in Scotland ‘more successful’, new research has found. The major role that employee ownership can play in improving productivity in the public sector. USA: The ESOP Association expressed disappointment once more over a provision in the 2015 budget. Worker co-ops: Like ESOPs, but better. A set of new ESOP companies.
Marc Mathieu Secretary General EFES – EUROPEANFEDERATION 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)2 808 30 33 E-mail: [email protected] 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 in Europe.