The Employee Ownership Update
April 1, 2016
Employee Ownership Again Common in Best 100 Companies to Work ForThirty-seven of the 73 companies with stock on the Fortune 2016 Best Companies to Work For list have some kind of broad-based ownership plan (27 employers on the list are partnerships, nonprofits, or subsidiaries of foreign corporations). The percentage is consistent with prior years.
Of the 37, six are majority employee-owned (R.W. Baird, PCL, Publix, W.L. Gore and Associates, Burns & Mcdonnell, and TD Industries). All but Baird and PCL have ESOPs. Seven companies make employees at least broadly eligible for equity grants, and each of these companies also has an ESPP. Two companies have minority ESOPs. Twenty-eight companies have employee stock purchase plans (ESPPs).
Employee Ownership in Canada: New BookCanada's legislative framework for employee ownership is vastly different from the United States. Companies based in Canada or with facilities in Canada can learn the country-specific legal, financial, operational, and organizational issues around employee ownership in the book ESOPs in Canada by Perry Phillips and Camille Jensen.
Those interested in employee ownership in Canada should also consider the Canadian Employee Ownership Conference (June 7 to 9 in Kelowna, BC).
The 2016 NCEO Board of DirectorsThe NCEO welcomes four new directors to our board. Elizabeth Bauer, Barbara Clough, Amanda DeVito, and Veronica Ortiz all have terms that begin today. In addition, James Mauch and Neil Brozen are both returning for second terms. See the list of directors. We also extend our deep gratitude to two directors whose terms just finished: Jorge Martin of Certent and Alex Freytag of ProfitWorks.
ESOPs and the Trucking IndustryAccording to an article in the online magazine of the trucking industry, trucking companies are starting to turn to employee ownership as a way to tackle employee attrition, which the article's author, Justin Stoltzfus, describes as "among the trucking industry's most critical issues." He discusses the experiences of two ESOP-owned trucking companies, TMC Transportation of Iowa and Paschall Truck Lines of Kentucky. He also notes that Steve Viscelli, a visiting assistant professor of sociology at Swarthmore College who studies the trucking industry, favors ESOPs because employee ownership "aligns the worker's interests and the company's interests."
Rocky Mountain Employee Ownership Center at the CapitolEmployee-owners visited the Colorado legislature on March 29 to advocate for legislation that would support employee ownership. They met with legislators and agency leaders.
Author biography and other columns in this series