Employee Ownership Making Waves in Australia and the UK

Top Workplaces, Social Impact, and the Circular Economy

Employee-owned businesses are gaining recognition for their outstanding workplace cultures and positive social and environmental impact. A prime example is Meld Studios, an employee-owned firm that ranked #4 in the "Professional Services" category of the Australian Financial Review's recent "Best Places to Work" report. As employee ownership models become more prevalent, we can expect to see more of these companies topping workplace rankings.

The rise of employee ownership aligns with growing interest in strategies that promote equity, community resilience, and sustainability. A recent UK report, People Powered Growth 2023 - The Rapid and Impactful Rise of Employee and Worker Ownership in the UK, provides compelling evidence of the wide-ranging benefits associated with employee ownership models.

The report, based on a substantial survey of around one-third of the 1,400+ employee-owned businesses in the UK, found that these companies contribute to greater social and employee well-being, fair pay practices, community resilience, commitments to net-zero emissions, and much more. This large-scale, comparative deep-dive research is one which every policymaker should take note of. If you wish to reduce inequality, create a healthier, happier, skilled workforce and a fairer, resilient, and more community-based 'social economy,' then all the policy levers you can pull to grow employee ownership in Australia are indicated in this report.

In the UK, the Employee Ownership Association (EOA) has launched a new website and strategy based on the "People Powered Growth" report's findings, signaling its commitment to the sector's continued growth and impact.

While employee ownership supports positive social outcomes, it is also emerging as a driver of sustainable business practices. Scott Bader, one of the oldest employee-owned businesses in the UK with a subsidiary in Perth, Western Australia, is pioneering the integration of circular economy principles into its plastics manufacturing operations. As both an employee-owned company and a leader in environmental stewardship, Scott Bader exemplifies the multifaceted potential of this business model.

With compelling evidence of employee ownership's benefits for workers, communities, and the planet, the stage is set for significant growth in this sector. Companies like Meld Studios and Scott Bader are paving the way, demonstrating that employee ownership can be a powerful force for creating great workplaces and a more sustainable, equitable future.