What Employee Ownership does for the Employee
Employee ownership can seem daunting, but it has great benefits
With an increasing interest in employee ownership, adopting such a plan may seem daunting. After all, now employees are suddenly taking on the risk only the owner had. While this is a reasonable fear, employee ownership provides various significant benefits that outweigh the downsides. A recent Forbes article lays out four main reasons: Enhanced performance, increased firm survivability, increased worker wealth, and more extensive control in corporate governance. Many concerns about risk are dispelled since employee-owned businesses not only offer greater stability but also involve employees in decision-making, ensuring their financial stability.
Moreover, with working America growing increasingly unhappy with their jobs, employee ownership is an important avenue to not only make employees more comfortable but also increase employee wealth. A sense of ownership over a company creates a culture that is purposeful. No longer are employees working for their boss, they are working for the company that they share. It is no wonder that employee-owned businesses tend to be both productive and communal.
Employee ownership may seem intimidating, however, it provides employees with a job that is built to help them, not just their boss.