Below is my summary from the “The Ownership Enquiry – Final Evidence Report” June 2018, which I thought a great introduction for anyone wanting to understand why I introduced employee ownership into our family business. Educating yourself before jumping into launching EO is critical to the success of your succession.
The evidence of the impact of employee ownership on performance is overwhelmingly positive. The most apparent evidence is for smaller firms, firms with larger employee ownership stakes, and in studies over longer time horizons.
Employee-owned firms tend to be more productive, have higher employee engagement, along with factors like rewards sharing, job satisfaction, organisational commitment, and motivation – which is reflected in higher retention and lower absenteeism.
Employee-owned business is more resilient in crises and appear to have a positive impact on the broader community. This evidence has salience in the current economic climate. The economy is increasingly shifting from manufacturing to services. The increasing shift involves the development of … Read more