Celebrating a Year of Research in Employee Ownership

A reflection on my first researching employee ownership

A year ago, I began my role as a research assistant studying employee ownership and workplace democracy for Dr. Hand. When I first started, my knowledge of these topics was limited. Today, this position has not only broadened my understanding of these crucial concepts but has also deepened my appreciation for their impact on workplaces and overall communities. Here are some of my favorite highlights so far.

The April 11th Washington D.C. Purpose Trust Convening

Project Equity, EO+WD, and Purpose Owned hosted a one-day convening focused on advancing and expanding the field of purpose trust ownership in Washington, D.C. It was an enriching experience that allowed us all to connect with a diverse group of people, including attorneys, academics, consultants, and funders, each bringing varying levels of expertise. One of the questions we asked was: How do we bring awareness among business owners? The responses (pictured above) hold significant potential and prove that together we can draft up brilliant ideas to drive this field forward.

Employee Ownership & The Wealth Gap

Learning about all the benefits of employee ownership is something I would also like to reflect on. A while back I read a paper by the Harvard Business School titled “Employee Ownership and Wealth Inequality: A Path to Reducing Wealth Concentration.” The paper explained how a widespread shift to broad-based employee ownership could impact wealth distribution in the United States. They used government data that showed that if all private firms became 30% employee-owned, the wealth distribution would be significantly impacted and the individuals at the bottom 90% of the wealth distribution would acquire substantial gains, particularly benefiting marginalized communities.

- Employee ownership is not commonly discussed as a solution when people talk about the wealth gap we face today, which is why this paper particularly caught my attention. It offered a compelling perspective on how employee ownership can help aid a prevalent issue in our country. I truly think it’s a valuable read for anyone interested in exploring innovative approaches to economic fairness.

Bernie Sanders at the 2024 Employee Ownership Ideas Forum

On April 9th, Bernie Sanders spoke at the 2024 Employee Ownership Ideas Forum. Something I did not know and was happy to learn, Sanders has long championed employee ownership since his early days in politics. In his speech, he argued that democracy must be something that extends beyond the ballot box, permeating every aspect of life including our workplaces. Sanders also emphasized ongoing congressional efforts to expand opportunities for employee ownership.

One last thing,

A quick shoutout to those of you working to advance employee ownership efforts. Your hard work and commitment are greatly significant. Great job and keep up the hard work.