Employee Ownership Summit Held in London in July 2012

The Employee Ownership Foundation, which is a member of the European Federation of Employee Share Ownership (EFES) — a group based in Brussels that promotes employee ownership in Europe — received an exciting email from EFES Secretary General Marc Mathieu discussing a recent summit on employee ownership. This summit, the first ever of its kind in Europe, was organized by British Deputy Prime Minister Nick Clegg. According to the email from Mr. Mathieu, “This is probably the most important move I ever saw in Europe regarding employee ownership.”

The British government adviser on employee ownership, Graeme Nuttall, published a report that included 28 recommendations for promoting employee ownership in the United Kingdom. The report is available here.

“Many of you have probably seen the burst of news articles earlier this year that talked about employee ownership in England as well as in Europe. Obviously, we’ve been following the issue and are impressed to see how much progress has been made,” said J. Michael Keeling, president of the Employee Ownership Foundation and The ESOP Association. “In the United States, 30 plus years of research has shown that employee ownership creates companies that are more productive, more profitable, in the vast majority of instances, and provide sustainable jobs that are locally-controlled. Yet, in the United States our government may use tax reform policy to stifle the best jobs sustaining program we have available. It’s eye opening. We must do more to make employee ownership a priority.”

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