The following is an excerpt of an article originally published by Mastercard Center for Inclusive Growth, featuring Ownership Works:
“Peter Stavros grew up in Chicago watching his father tirelessly grade roads to support his family. As Stavros forged a very different career at private equity giant KKR, he was determined to ensure others could receive the opportunity to share in the wealth their hard work created. That’s why he launched Ownership Works, a nonprofit that helps companies give employees an ownership stake.
Since launching in 2022, O.W. has helped more than 180 companies share ownership with their employees through broad-based ownership programs. Staff retention and engagement have improved significantly at most of these companies, and exit payouts that employee-owners receive have helped people put their kids through college, pay for healthcare expenses, and start families.
O.W. set a goal of generating $20 billion in wealth for employees by 2030 to drive economic resilience. The organization is now working with the Mastercard Center for Inclusive Growth to scale the O.W. FinWell survey, which captures insights on how workers are faring financially. The expanded effort could help employers turn those insights into practical financial well-being initiatives, building the resilience and stability needed to more fully engage in ownership programs and make the most of the equity they earn.
Stavros joined Shamina Singh, the Center’s founder and president, to discuss with the Mastercard Newsroom why factors such as economic volatility and AI are strengthening the case for employee ownership.”
Read the full article here.
