UK: World Joins In Celebrating UK Employee Ownership Day 2016

Last Updated: 7 July 2016
Article by Graeme Nuttall and Jennifer Martin

Friday 1 July marks the fourth annual UK EO Day - a day of celebration of employee ownership and a fantastic opportunity to raise awareness of the positive impact the EO sector has on the UK economy.

This year, the UK EO sector's success is celebrated around the World – read below a collection of messages from international organisations who support what we are achieving in the UK.

Australia - Employee Ownership Australia & New Zealand: "EOA Australia & NZ joins with the UK EO sector in celebrating EO Day. Since the first UK EO Day in 2013, we've seen major tax law changes in Australia that have boosted EO in start-ups and part of the driver for this has been the fantastic work done in the UK.  We join everyone in congratulating companies that operate EO."

Australia - Terri Butler MP, Shadow Parliamentary Secretary to the Leader of the Opposition: "Congratulations on celebrating EO Day. I'm enthusiastic about working with parliamentary colleagues to build better opportunities for employee ownership in Australia. I wish you all the best for the day, and for your continued efforts to promote employee ownership."

Canada – the ESOP Association of Canada: "The ESOP Association of Canada joins in celebrating the 4th UK EO Day on July 1. Congratulations!! We have been greatly encouraged by the UK Government's support for EO and the tremendous growth of the UK's EO sector since 2012.  Your work is truly inspirational.  Our Association has gained new enthusiasm and momentum within the past few years as we strive to instill greater awareness of employee ownership in Canada.   Following your lead, we are striving to find champions within our political parties and hope that the Canadian Government will also see, and support this very powerful model to aid in succession, productivity, engagement, resilience, employee satisfaction, and economic vibrancy. One day, we will also have a national EO day. We appreciate you for being a high-bar to which we can aspire in Canada."

Gipuzkoa - the Gipuzkoa Provincial Council: "We would like to share a series of reflections with you today 1st of July 2016:

  • Firstly, congratulations on your fourth annual UK EO Day;
  • We recognise that the path you have followed to promote "employee ownership" in companies, specifically through the equity stake of employees, has served as a reference for us to design our policies (and primarily to build our working framework and for the essential incorporation of all economic, social and territorial actors in this process);
  • We reiterate our commitment to continue working towards having more employee-owned companies which will help better develop the potential of people, businesses and the territory; in short, helping to improve the welfare of citizens.

We wish you a good 1 July, and for it to be the start of the exciting path to continuing to promote employee ownership in companies, which we want to and must share."

India – ESOP Direct: "I am very glad to know that UK is celebrating Employee Ownership day this year. The work done by the UK government and especially by Graeme Nuttall as the Advisor to them on this subject, is highly commendable. India and UK share the similar Regulatory foundations and principles, hence Indian businesses, Regulators and Government have a lot to learn from the UK experience and approach to this subject. We look forward to gaining insights from Graeme on the UK experience that can be used by countries like India. My team at ESOP Direct joins me in congratulating all in the EO sector for their incredible contribution in promoting employee ownership in UK and wish them all the very best!!"

Ireland - Irish ProShare Association: "IPSA joins in celebrating EO Day. We have recently seen the Irish Government announce a consultation on the taxation of share remuneration and while we are starting from a long way back we know we can soon emulate your success in promoting greater awareness and implementation of Employee Ownership in Irish SMEs and in time larger corporations. Thanks to all in the EOA for being the giant on who's shoulders we can stand!"

USA - Joseph R. Blasi, Distinguished J. Robert Beyster Professor at the Rutgers School of Management and Labor Relations, and co-author of The Citizen's Share: "Over a century and a half ago, Americans learned of British ideas on employee ownership from the widely-read books of John Stuart Mill. There is no question that the British inspiration helped fuel interest in the topic in the U.S. in the 1800s. Today, our countries are among the world's leaders in government and public support for more employee ownership, and the Rutgers School of Management and Labor Relations is proud to support Employee Ownership Day in the UK. Our research has shown the constructive impact of this important form of shared capitalism here in the U.S. Both countries have a lot to learn from each other about employee ownership in the future, and the Rutgers School of Management and Labor Relations looks forward to promoting trans-Atlantic dialogue on this important subject." 

USA – National Center for Employee Ownership: "The United Kingdom has become the world's creative laboratory of employee ownership. All of us at the NCEO salute your innovation, your energy, and most importantly, your incredible success in creating more employee ownership."

Germany - Prof. Dr iur. Jens Lowitzsch, Kelso Professor of Comparative Law, East European Business Law and European Legal Policy at European University VIADRINA, Frankfurt (O) and Director of the Inter-University Centre: "It is today that the Inter-University Centre joins with the UK EO sector in celebrating UK EO Day. The UK and in particular the most recent policy initiatives had a strong influence on our major report for the European Commission in 2014.  In the context of the launch of a "Five Point Plan to Promote EFP" we included UK case studies, highlighted the UK's unique trust model of perpetual EO and held up the effect of the Nuttall Review and the UK Government's support for EO as an exemplar for all of Europe to follow. I am confident that the UK will endure to be a leader in promoting EO and - despite recent political developments – continue to give key impulses for the development of EO across the EU. More than twenty-five years have passed since the Commission of the European Communities expressed an interest in promoting an EU instrument to facilitate financial participation of employees  Over this period a series of PEPPER Reports have documented the diverse experience of the growing number of EU countries.  Consequently, in its Resolution of 14 January 2014 (T7-0013/2014), the European Parliament called on the European Commission to further promote employee ownership and to investigate the issue of a European framework for the promotion of employee financial participation.  The results of the Pilot Project were presented to the EP in an EMPL workshop on 11 Nov. 2014 and the EP debated an Oral Question to the Commission on EFP on 10 Feb. 2015. Nowadays, the topic and especially its European dimension has gained importance across the European Union as the former Vice-President of the European Commission, Michel Barnier in his speech at a 2014 DG MARKT conference on employee ownership and participation, points out: "[. . .] Employee share ownership is, by its very nature, a long-term investment. It will have a stabilising effect on capital markets, and is seen by our enterprises as a welcome counterweight to speculative, short-term investment. Enterprises that practise employee share ownership, can count on a block of demanding but loyal shareholders, who are attached to an enterprise and know the firm better than external shareholders. [. . .]" Given this remarkable political initiative by the European policy-makers, we surmise that the conditions for improving the legal framework for financial participation of employees (and therefore for the transformation of non-owners into shareholders) are now especially favourable."

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

To print this article, all you need is to be registered on Mondaq.com.

Click to Login as an existing user or Register so you can print this article.

Authors
 
In association with
Related Video
Up-coming Events Search
Tools
Print
Font Size:
Translation
Channels
Mondaq on Twitter
 
Register for Access and our Free Biweekly Alert for
This service is completely free. Access 250,000 archived articles from 100+ countries and get a personalised email twice a week covering developments (and yes, our lawyers like to think you’ve read our Disclaimer).
 
Email Address
Company Name
Password
Confirm Password
Mondaq Topics -- Select your Interests
 Accounting
 Anti-trust
 Commercial
 Compliance
 Consumer
 Criminal
 Employment
 Energy
 Environment
 Family
 Finance
 Government
 Healthcare
 Immigration
 Insolvency
 Insurance
 International
 IP
 Law Performance
 Law Practice
 Litigation
 Media & IT
 Privacy
 Real Estate
 Strategy
 Tax
 Technology
 Transport
 Wealth Mgt
Regions
Africa
Asia
Asia Pacific
Australasia
Canada
Caribbean
Europe
European Union
Latin America
Middle East
U.K.
United States
Worldwide Updates
Check to state you have read and
agree to our Terms and Conditions

Terms & Conditions and Privacy Statement

Mondaq.com (the Website) is owned and managed by Mondaq Ltd and as a user you are granted a non-exclusive, revocable license to access the Website under its terms and conditions of use. Your use of the Website constitutes your agreement to the following terms and conditions of use. Mondaq Ltd may terminate your use of the Website if you are in breach of these terms and conditions or if Mondaq Ltd decides to terminate your license of use for whatever reason.

Use of www.mondaq.com

You may use the Website but are required to register as a user if you wish to read the full text of the content and articles available (the Content). You may not modify, publish, transmit, transfer or sell, reproduce, create derivative works from, distribute, perform, link, display, or in any way exploit any of the Content, in whole or in part, except as expressly permitted in these terms & conditions or with the prior written consent of Mondaq Ltd. You may not use electronic or other means to extract details or information about Mondaq.com’s content, users or contributors in order to offer them any services or products which compete directly or indirectly with Mondaq Ltd’s services and products.

Disclaimer

Mondaq Ltd and/or its respective suppliers make no representations about the suitability of the information contained in the documents and related graphics published on this server for any purpose. All such documents and related graphics are provided "as is" without warranty of any kind. Mondaq Ltd and/or its respective suppliers hereby disclaim all warranties and conditions with regard to this information, including all implied warranties and conditions of merchantability, fitness for a particular purpose, title and non-infringement. In no event shall Mondaq Ltd and/or its respective suppliers be liable for any special, indirect or consequential damages or any damages whatsoever resulting from loss of use, data or profits, whether in an action of contract, negligence or other tortious action, arising out of or in connection with the use or performance of information available from this server.

The documents and related graphics published on this server could include technical inaccuracies or typographical errors. Changes are periodically added to the information herein. Mondaq Ltd and/or its respective suppliers may make improvements and/or changes in the product(s) and/or the program(s) described herein at any time.

Registration

Mondaq Ltd requires you to register and provide information that personally identifies you, including what sort of information you are interested in, for three primary purposes:

  • To allow you to personalize the Mondaq websites you are visiting.
  • To enable features such as password reminder, newsletter alerts, email a colleague, and linking from Mondaq (and its affiliate sites) to your website.
  • To produce demographic feedback for our information providers who provide information free for your use.

Mondaq (and its affiliate sites) do not sell or provide your details to third parties other than information providers. The reason we provide our information providers with this information is so that they can measure the response their articles are receiving and provide you with information about their products and services.

If you do not want us to provide your name and email address you may opt out by clicking here .

If you do not wish to receive any future announcements of products and services offered by Mondaq by clicking here .

Information Collection and Use

We require site users to register with Mondaq (and its affiliate sites) to view the free information on the site. We also collect information from our users at several different points on the websites: this is so that we can customise the sites according to individual usage, provide 'session-aware' functionality, and ensure that content is acquired and developed appropriately. This gives us an overall picture of our user profiles, which in turn shows to our Editorial Contributors the type of person they are reaching by posting articles on Mondaq (and its affiliate sites) – meaning more free content for registered users.

We are only able to provide the material on the Mondaq (and its affiliate sites) site free to site visitors because we can pass on information about the pages that users are viewing and the personal information users provide to us (e.g. email addresses) to reputable contributing firms such as law firms who author those pages. We do not sell or rent information to anyone else other than the authors of those pages, who may change from time to time. Should you wish us not to disclose your details to any of these parties, please tick the box above or tick the box marked "Opt out of Registration Information Disclosure" on the Your Profile page. We and our author organisations may only contact you via email or other means if you allow us to do so. Users can opt out of contact when they register on the site, or send an email to unsubscribe@mondaq.com with “no disclosure” in the subject heading

Mondaq News Alerts

In order to receive Mondaq News Alerts, users have to complete a separate registration form. This is a personalised service where users choose regions and topics of interest and we send it only to those users who have requested it. Users can stop receiving these Alerts by going to the Mondaq News Alerts page and deselecting all interest areas. In the same way users can amend their personal preferences to add or remove subject areas.

Cookies

A cookie is a small text file written to a user’s hard drive that contains an identifying user number. The cookies do not contain any personal information about users. We use the cookie so users do not have to log in every time they use the service and the cookie will automatically expire if you do not visit the Mondaq website (or its affiliate sites) for 12 months. We also use the cookie to personalise a user's experience of the site (for example to show information specific to a user's region). As the Mondaq sites are fully personalised and cookies are essential to its core technology the site will function unpredictably with browsers that do not support cookies - or where cookies are disabled (in these circumstances we advise you to attempt to locate the information you require elsewhere on the web). However if you are concerned about the presence of a Mondaq cookie on your machine you can also choose to expire the cookie immediately (remove it) by selecting the 'Log Off' menu option as the last thing you do when you use the site.

Some of our business partners may use cookies on our site (for example, advertisers). However, we have no access to or control over these cookies and we are not aware of any at present that do so.

Log Files

We use IP addresses to analyse trends, administer the site, track movement, and gather broad demographic information for aggregate use. IP addresses are not linked to personally identifiable information.

Links

This web site contains links to other sites. Please be aware that Mondaq (or its affiliate sites) are not responsible for the privacy practices of such other sites. We encourage our users to be aware when they leave our site and to read the privacy statements of these third party sites. This privacy statement applies solely to information collected by this Web site.

Surveys & Contests

From time-to-time our site requests information from users via surveys or contests. Participation in these surveys or contests is completely voluntary and the user therefore has a choice whether or not to disclose any information requested. Information requested may include contact information (such as name and delivery address), and demographic information (such as postcode, age level). Contact information will be used to notify the winners and award prizes. Survey information will be used for purposes of monitoring or improving the functionality of the site.

Mail-A-Friend

If a user elects to use our referral service for informing a friend about our site, we ask them for the friend’s name and email address. Mondaq stores this information and may contact the friend to invite them to register with Mondaq, but they will not be contacted more than once. The friend may contact Mondaq to request the removal of this information from our database.

Security

This website takes every reasonable precaution to protect our users’ information. When users submit sensitive information via the website, your information is protected using firewalls and other security technology. If you have any questions about the security at our website, you can send an email to webmaster@mondaq.com.

Correcting/Updating Personal Information

If a user’s personally identifiable information changes (such as postcode), or if a user no longer desires our service, we will endeavour to provide a way to correct, update or remove that user’s personal data provided to us. This can usually be done at the “Your Profile” page or by sending an email to EditorialAdvisor@mondaq.com.

Notification of Changes

If we decide to change our Terms & Conditions or Privacy Policy, we will post those changes on our site so our users are always aware of what information we collect, how we use it, and under what circumstances, if any, we disclose it. If at any point we decide to use personally identifiable information in a manner different from that stated at the time it was collected, we will notify users by way of an email. Users will have a choice as to whether or not we use their information in this different manner. We will use information in accordance with the privacy policy under which the information was collected.

How to contact Mondaq

You can contact us with comments or queries at enquiries@mondaq.com.

If for some reason you believe Mondaq Ltd. has not adhered to these principles, please notify us by e-mail at problems@mondaq.com and we will use commercially reasonable efforts to determine and correct the problem promptly.