And it says benefits include better company performance, stronger local economies, longer-term investments, and higher wealth and income for workers.
While many businesses offer share options, for most executives, employee ownership sees a broad base of employees holding a significant stake in their employer through trusts. Employee trusts do not currently exist in Canada, but the federal government has agreed to examine the potential in its 2021 budget.
The report highlights how 14 million US workers across 6,400 companies shared assets worth US$1.4 trillion.
Bill Young, founder of SCP, explained, “Employee ownership provides workers with avenues of wealth creation that would not otherwise be available. Two years into the COVID-19 pandemic, many people with assets are financially better off, while those without Property people have suffered.”
now is the time
Young believes that it’s important to act fast to drive ownership of employees, while older generations of business owners want to sell their companies.
