25th June 2013
4 July 2013 is Employee Ownership Day
This coming 4 July is to be the UK’s first Employee Ownership Day. Launched by the Department for Business, Innovation and Skills (BIS), with the support of the Employee Ownership Association (EOA), Employee Ownership Day is intended to raise awareness of what employee ownership means, its benefits and successful employee share ownership models in a range of UK companies.
A key finding of last year’s Nuttall Review of Employee Ownership was that its growth is being held back by a lack of awareness amongst both companies and their advisers. Employee Ownership Day is one of a series of responses to this. A wide range of successful employee ownership models will be highlighted, as will the work of the Cabinet Office in promoting “public service mutuals”.
Jo Swinson MP, the Minister for Employee Relations and Consumer Affairs, is planning to visit on the day a business that has embraced employee ownership, and she will be the keynote speaker at a dinner at the House of Commons which will follow an Employee Ownership Day conference organised by BIS and EOA.
Other organisations involved in promoting Employee Ownership Day include Co-operatives UK, the Federation of Small Businesses, John Lewis Partnership and Santander. Across the country, staff at over 100 businesses will be celebrating the fact that they are owners as well as employees. The Employee Ownership Association will also be publishing a “How To” guide for businesses interested in transitioning into employee ownership.
Last year, the Cass Business School published the findings of its research into the impact of employee ownership, which among other things found that employee-owned companies have been more resilient during the economic recession. Employee-owned businesses tend to plan on a longer term basis and encourage the sharing of wealth among those who are instrumental in creating it.
You can find further details of Employee Ownership Day on the EOA website at:
The Nuttall Review of Employee Ownership can be found at:
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