Summary: Employee-owned businesses tend to be happier and therefore probably more productive places to work.
Key Take Aways:
- If possible, look for employment at organizations where employees can participate in decision-making at a meaningful level.
- Some employee-led companies also offer better financial incentives.
Research conducted by the Employee Ownership Association in the UK found employees who are also owners of the organizations where they work enjoy a number of benefits from their greater participation. For example, about eighty percent said they have a sense achievement from their work. Many also say they feel have more input in meaningful decision-making. They also reported they have a better feeling of job security than workers who are not also owners. Additionally, almost eighty percent said they would encourage others to work at the same organization.
The chief executive of the Employee Ownership Association Iain Hasell said, "This new report shows that people in employee-owned companies feel much greater involvement in decision-making at work, which feeds through into other benefits including satisfaction and well-being. The key to the success of employee ownership is respect and recognition in the workplace. And the reason that we will continue to challenge attempts to remove workplace rights from this group of workers.”
One thousand employee surveys were conducted for the research study, including those for employees who are not owners.
Recently there have been some stories about businesses becoming employee-owned. While they may not have garnered much attention, they deserve to because happier workers tend to be more engaged and more productive. One of the companies is in Washington state and makes electronics. It has just over 100 employees. Another is a casino in East St. Louis with about seven hundred workers. Workers who have a greater sense of control over their job activities tend to feel more connected both to their own work and have a stronger sense of community with their co-workers.
When you are looking for a job, it may be beneficial to target an employee-owned organization as your next potential employer.
Image Credit: Jubair Bin Iqbal, Wiki Commons