The following is an excerpt from an article in Forbes:
“A group of private equity firms, companies (including Harley Davidson – employee owners), pension funds and nonprofits – spearheaded by Pete Stavros a partner at KKR — has announced that they are creating an initiative they have titled “Ownership Works” that will work to encourage companies to have their employees – especially low-income employees – become shareholders. This makes for a happy day as employee ownership is an issue of which I have long been drum banging.
Studies repeatedly have shown the benefits of employee ownership for both workers as well as improving company performance and profits. For example, a Rutgers study found that employees close to retirement and working at a company with an employer ownership plan had more than ten times the median savings of employees nationally (with particularly strong outcomes for minorities). Further, the Rutgers study found that with an employee ownership program – employees were more likely to benefit from job training; greater job security; increased retirement security; improved financial skills; and improved inequality.”
Read the full article in Forbes.
