This report sets out the case for an expansion of employee share ownership in the UK, and for the share ownership agenda to form a key part of a “fair and strong economic recovery” narrative as we emerge from the Coronavirus crisis.
Evidence suggests that employee share ownership could play a role in tackling the UK’s productivity crisis, improving economic growth, innovation and outcomes for employees such as higher wages. Share plans could also be an important tool for bolstering the financial resistance of UK households.
To address barriers to participation and rollout of employee share plans, this report makes a series of policy recommendations aimed at:
- Nudging businesses to offer employee share plans through new measures
- Modernising share plans to reflect the 21st Century labour market
- Getting lower income workers on board
- Strengthening rights and voice of employee shareholders
- Introducing a new ownership model to encourage employee share ownership to form a key part of business succession planning
- Supercharging entrepreneurship and innovation – with employee-owned start-ups and academic-owned university spinout companies
This research is kindly sponsored by ProShare, part of The Chartered Governance Institute UK & Ireland