Government launches employee ownership drive
13 Jul 2012
The Government has launched a call for evidence on employee ownership, following confirmation that it will be acting to promote the benefits of employee ownership in the private sector.
The consultation on the introduction of a right to request employee ownership will consider such issues as: what the minimum number of employees should be; the grounds for turning down a request; whether requests should be allowed at any time; and whether they should be a statutory right.
Deputy Prime Minister Nick Clegg also announced the introduction of an independent institute for employee ownership, which will advise professionals, including managers and employees, lawyers and accountants.
Commenting on the launch, Mr Clegg said, ‘Employee-owned firms have lower levels of absenteeism, higher productivity and growth rates and smaller gaps between the pay at the top and ordinary workers. But if we want to make employee ownership a larger slice of our economy, we have to make it simpler’.