Someone obviously forgot to tell Clegg that Lehman Brothers was 30% owned by the employees. Employee share ownership is not the panacea he thinks it is..............
Nick Clegg has called for employees to have the right to shares in the company they work for, as part of his bid to transform Britain into a ‘John Lewis economy’.
A report from Graeme Nuttall - the Government's independent adviser o...n employee ownership – proposes that if at least 10 per cent of staff want to do so, they should have a statutory right to lodge a proposal for the workforce to share in the ownership. However, only businesses with over 250 employees would be considered in the first instance.
The report – by law firm Field Fisher Waterhouse - says bosses would then have to consider the request and be compelled to give reasons for refusal.
In January, the deputy PM championed the uptake of wider employee ownership, to further boost the UK’s 120 companies that have similar schemes.
The government has yet to decide if the move should be statutory.
The report’s publication coincides with the release of the annual IFS ProShare Employee Share Survey which showed over two million workers were enrolled in employee sharesave schemes last year.
A total of 378,497 workers received on average £536.37 each in free shares last year – down from £675.98 per employee given to 353,235 employees in 2010. The tax-free shares were given to employees as part of Share Incentive Plans (SIPs), often part of reward and retention packages, up to an annual maximum of £3,000 per employee.
The survey of over 451 companies, including 95 of the FTSE 100, also revealed the average monthly amount of money employees contributed to a Save As You Earn (SAYE) grew slightly, to £102 from £101 in 2010, and an increasing number of staff are saving the maximum monthly amount of £250, up 7pc to 22pc in 2011.
Employers such as BT, Aviva, National Grid and Asda all offer a range of SAYE and SIP (Share Incentive Plans) share schemes.
More details are available from the BIS website.
Nick Clegg has called for employees to have the right to shares in the company they work for, as part of his bid to transform Britain into a ‘John Lewis economy’.
A report from Graeme Nuttall - the Government's independent adviser o...n employee ownership – proposes that if at least 10 per cent of staff want to do so, they should have a statutory right to lodge a proposal for the workforce to share in the ownership. However, only businesses with over 250 employees would be considered in the first instance.
The report – by law firm Field Fisher Waterhouse - says bosses would then have to consider the request and be compelled to give reasons for refusal.
In January, the deputy PM championed the uptake of wider employee ownership, to further boost the UK’s 120 companies that have similar schemes.
The government has yet to decide if the move should be statutory.
The report’s publication coincides with the release of the annual IFS ProShare Employee Share Survey which showed over two million workers were enrolled in employee sharesave schemes last year.
A total of 378,497 workers received on average £536.37 each in free shares last year – down from £675.98 per employee given to 353,235 employees in 2010. The tax-free shares were given to employees as part of Share Incentive Plans (SIPs), often part of reward and retention packages, up to an annual maximum of £3,000 per employee.
The survey of over 451 companies, including 95 of the FTSE 100, also revealed the average monthly amount of money employees contributed to a Save As You Earn (SAYE) grew slightly, to £102 from £101 in 2010, and an increasing number of staff are saving the maximum monthly amount of £250, up 7pc to 22pc in 2011.
Employers such as BT, Aviva, National Grid and Asda all offer a range of SAYE and SIP (Share Incentive Plans) share schemes.
More details are available from the BIS website.
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