Backed by a who’s who of public companies, asset managers and other advisory firms, this new organization recently launched with a full-page advertisement in the New York Times to introduce: “Ownership Works.”
“Today,” the ad reads, “Ownership Works announces a new movement to increase prosperity through shared ownership at work. Employee ownership can unlock new financial possibilities for wokers, invigorate companies, and help build an inclusive and resilient economy.”
Goals for 2030 are to “create hundreds of thousands of new employee-owners generating at least $20 billion of wealth for low- and moderate-income households and people of color.”
ESM recently published an article on Employee Stock Ownership plans. See ESM: Employee Ownership Is a Capitalist Tool.
Founding Ownership Works sponsors include: UBS, JP Morgan Chase, Morgan Stanley, Credit Suisse, Wells Fargo, Citi, Goldman Sachs, Jefferies, Deutsche Bank, Bank of America, JHSBC, the Rockefeller Foundation, Omidyar Network, William Blair, Ford Foundation, EY, KKR, and dozens more. Click here for a complete list by category. The backing of this group demonstrates the growing support for Stakeholder Capitalism principles, defined as creating returns for investors by creating value for employees, customers, supply chain and distribution partners, and communities.
The organization’s public relations department did not respond to a request for an interview in time for this publication. According to the organization’s website, “Equity for all leads to success for all. Ownership Works is on a mission to increase prosperity through shared ownership at work. We’re fueling the movement to establish employee ownership as the new standard of socially responsible business and investing – one that creates great places to work and generates superior financial returns for businesses, investors, and employees alike.”
The organization says its activities focus on:
“1. Movement Building. Through partnerships, network-building, education, data, and storytelling, we’re inspiring a groundswell of interest among business leaders and investors to provide all employees with the opportunity to participate in the value they help create—not only because it’s the right thing to do, but also because it’s smarter business.”
“2. Hands-on Guidance. In collaboration with our founding partners, we’re helping public and private companies develop and implement new models of broad-based employee ownership that improve corporate cultures, increase employee engagement and satisfaction, and create an alignment of interests between employees and employer, all of which can support better outcomes for companies and workers.”
Management includes former corporate attorneys, experts in financial marketing and business development, private equity, talent management and more. The organization says it offers a variety of solutions to help organizations identify the employee ownership model that is appropriate for their businesses.
The website provides multiple examples of employee ownership at work and profiles its management team but does not disclose who or which organization precisely founded it, saying only that a new board of directors will be appointed soon.
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Master the “S” of Environmental, Social, Governance (ESG), A.k.a. Stakeholder Capitalism
The Enterprise Engagement Alliance at TheEEA.org is the world’s first and only organization that focuses on outreach, certification and training, and advisory services to help organizations achieve their goals by fostering the proactive involvement of all stakeholders. This includes customers, employees, distribution and supply chain partners, and communities, or anyone connected to an organization’s success.
Training and Thought Leadership
- Founded in 2008, the Enterprise Engagement Alliance provides outreach, learning and certification in Enterprise Engagement, an implementation process for the “S” or Social of Stakeholder Capitalism and Human Capital Management and measurement of engagement across the organization.
- The Enterprise Engagement Alliance provides a training and certification program for business leaders, practitioners, and solution providers, as well as executive briefings and human capital gap analyses for senior leaders.
- The EEA produces an education program for CFOs for the CFO.University training program on Human Capital Management.
- Join the EEA to become a leader in the implementation of the “S” of ESG and Stakeholder Capitalism.
- The ESM information portal and The Enterprise Engagement Advisors Network solution provider marketplace cover all aspects of stakeholder engagement, and the EEA information library lists dozens of resources.
- The RRN information portal and Brand Media Coalition marketplace address the use of brands for gifting, incentives, recognition, and promotions. The BMC information library provides information and research resources.
The EEA Human Capital Management and ROI of Engagement YouTube channel features a growing library of 30- to 60-minute panel discussions with leading experts in all areas of engagement and total rewards.
- Enterprise Engagement for CEOs: The Little Blue Book for People-Centric Capitalists. A quick guide for CEOs.
- Enterprise Engagement: The Roadmap 5th Edition implementation guide. A comprehensive textbook for practitioners, academics, and students.
Enterprise Engagement Advisory Services
The Engagement Agency helps:
- Organizations of all types develop strategic Stakeholder Capitalism and Enterprise Engagement processes and human capital management and reporting strategies; conduct human capital gap analyses; design and implement strategic human capital management and reporting plans that address DEI (Diversity, Equity, and Inclusion), and assist with managed outsourcing of engagement products and services.
- Human resources, sales and marketing solution providers profit from the emerging discipline of human capital management and ROI of engagement through training and marketing services.
- Investors make sense of human capital reporting by public companies.
- Buyers and sellers of companies in the engagement space or business owners or buyers who seek to account for human capital in their mergers and acquistions.
For more information: Contact Bruce Bolger at Bolger@TheICEE.org or call 914-591-7600, ext. 230.