Employee Ownership Day highlights the impact employee ownership has on individuals, organisations and communities. With this year’s theme, #TheEOEffect, we delve into the transformative power of share plans and employee-owned businesses.
The benefits of employee ownership
Employee-owned businesses go beyond traditional models, empowering their people with a sense of ownership and a stake in the company’s success. By allowing employees to own a share of the business, these organisations create a more motivated and engaged workforce. Employees are more than workers; they’re stakeholders and offered shares to keep them invested in the company’s growth and prosperity. This shared ownership leads to improved job satisfaction, enhanced financial wellbeing, and a stronger sense of purpose – #TheEOEffect.
Financial empowerment and education
Through share plans, employees can build wealth and help secure their financial future. By actively participating in the company’s success, employees become more financially literate and gain a deeper understanding of the stock market, investments, and long-term financial planning. This empowerment extends beyond the workplace, positively impacting individuals, families, and their communities.
Driving local growth and sustainable practices
With a long-term perspective, these organisations prioritise sustainable practices and investment in Environmental, Social, and Governance (ESG) issues. They build stronger connections with local communities, creating a positive ripple effect. By generating jobs and supporting the wider economy, employee-owned businesses contribute to the UK government’s levelling-up agenda and post-pandemic recovery.
Harnessing communication to power #TheEOEffect
Employee-owned businesses have a unique opportunity to encourage and amplify the benefits of employee ownership and share plans. So, what can you do?
Here are our top five tips and tricks to encourage the #TheEOEffect.
Be transparent in your communications: Transparency is vital in promoting employee ownership. Regularly communicate company updates, financial performance, and decision-making processes to employees.
Share success stories: Highlight success stories and achievements of employee owners within your organisation. Sharing personal experiences of employees who have benefited from the ownership structure helps inspire others and demonstrates the positive impact on individuals, their families, and their communities.
Educate your people: Offer education and training programs to help employees understand the benefits of employee ownership, share plans, and financial literacy. Provide resources, workshops and seminars that empower employees to make informed decisions and actively participate in the success of your company.
Use multiple communication channels: Employ a multi-channel communication approach to reach more employees. Use your Intranet, newsletters, team meetings, town halls, and social media to distribute information and encourage conversation.
Celebrate Employee Ownership Day: Why not hold your own celebrations on the day? Organise a virtual or in-person event that will bring your colleagues together. Use this opportunity to promote share plan success stories, explore this year’s theme in depth, and answer questions your employees may have.