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From founder to future : a business road map to impact, longevity, and employee ownership
\"Learn how to transition leadership, implement shared ownership, and preserve your organization's core values-setting the stage for your business to thrive for generations to come. This visionary but practical handbook offers mission-driven business owners a roadmap for ensuring their company's lasting impact. Through inspiring real-world stories of B-Corps, worker co-ops, ESOPs, and employee ownership trusts, this book demonstrates how to create resilient organizations that benefit workers and communities. Abrams provides actionable strategies for navigating leadership succession, implementing shared ownership models, fostering participatory management, and codifying company purpose. Drawing on his 50-year journey with South Mountain Company and extensive research, Abrams outlines five critical transitions for mission-driven businesses: From founder to next-generation leadership; From sole ownership to widely shared; From hierarchical control to democratic management; From unprotected mission to preserved purpose; From business-as-usual to B Corp force for good. From Founder to Future is an essential guide for mission-driven leaders seeking to reshape their businesses for inclusivity, longevity, and positive impact. Whether you're a retiring owner planning your exit, a young entrepreneur building for the future, or an employee working in a purpose-driven business, this book offers a blueprint for creating enduring, values-driven enterprises in the emerging regenerative economy. As $10 trillion in assets prepare to change hands over the next two decades, this timely guide shows how to preserve your company's mission and legacy while empowering the next generation\"-- Provided by publisher.
BOOK
Employee Ownership and Employee Involvement at Work: Case Studies
With a growing prominence of sophisticated econometric research in the field of New Economics of Participation (NEP), it is of particular value to learn about real-world examples of participatory and labor-managed firms in the advanced market economies through extensive case studies. In this volume, the authors present such case studies.
eBook
Employees as Conduits for Effective Stakeholder Engagement: An Example from B Corporations
Is there a link between how a firm manages its internal and external stakeholders? More specifically, are firms that give employees stock ownership and more say in running the enterprise more likely to engage with external stakeholders? This study seeks to answer these questions by elaborating on mechanisms that link employees to external stakeholders, such as the community, suppliers, and the environment. It tests these relationships using a sample of 347 private, mostly small-to-medium size firms, which completed a stakeholder impact assessment organized by the non-profit B Lab. The results support the hypotheses that both employee ownership and employee involvement are positively associated with external stakeholder engagement. Further, we found that certification plays a role, as employee ownership contributes to external stakeholder engagement only in certified B Corporations, and not in firms that merely completed the B Lab Impact assessment. Our findings have import for stakeholder engagement frameworks, as we show that there is interplay between internal employee stakeholders and external stakeholders that may be important to overall firm-stakeholder management.
Journal Article
Employee Stock Ownership Plans and Corporate Environmental Engagement
This study examines the impact of non-executive employee stock ownership plans (ESOP) on corporate environmental engagement. We show that granting ESOPs to non-executive employees promotes greater corporate ecological engagement from the perspectives of environmental protection expenditures, environmental information disclosure quality, and environmental, social, and governance (ESG) ratings. ESOPs unite members in a common interest, empowering them to put pressure on management to reduce carbon emissions, which benefits their physical wellbeing and increases their residual interest in long-term corporate wealth. Further, our analysis reveals that companies investing in environmental protection forgo short-term profit as a consequence of high initial costs, while increasing long-term firm value. These positive effects are attributable to ESOP schemes with higher employee subscription rates, those granted to a larger number of non-executive employees, and those with longer validity periods of ownership, whose incentive effect is sufficiently powerful to offset the free-rider problem. In addition, the impact of ESOPs is more pronounced in companies with greater media exposure, those confronting intense labor market competition, and those in heavily polluting industries. Fundamentally, our study provides novel evidence of the incentive effect of ESOPs on corporate environmental engagement and of stakeholder dynamics driving the implementation of carbon reduction strategies.
Journal Article
Overcoming barriers of employee ownership in France, Italy, Spain, the UK and the US
PurposeThe purpose of this paper is to give an updated overview over the development of employee-ownership in Italy, France, Spain including Mondragon, the UK and the US with relatively many employee-owned firms. How have the barriers for employee-ownership been overcome in these countries?Design/methodology/approachThe overview is based on updated descriptions of the development of employee-ownership included in this special issue. The analysis follows the structure of overcoming five barriers: the organization problem; the problem of entry and exit of employee-owners; the startup and takeover problem; the capital- and the risk problem.FindingsItaly, France and Spain have overcome the barriers by specific legislation for worker cooperatives, this includes rules for entry and exit of employee members. Cooperative support organizations play an important role for monitoring and managing the startup problem and for access to capital. The Mondragon model includes individual ownership elements and a group structure of cooperatives. The EOT and ESOP models are well suited for employee takeovers, financing are eased by tax advantages and they are all-employee schemes. While the EOT has no individual risks, the ESOP model has the possibility for capital gains for employees but also the risk of losing these gains.Originality/valueComprehensive and updated overview of the development in employee-ownership in the five countries to identify successful formats of employee-ownership for implementation in countries with few employee-owned firms.
Journal Article
Own this! : how platform cooperatives help workers build a democratic internet
\"An introduction to platform cooperativism: cooperatively owned, democratically governed businesses\"-- Provided by publisher.
Book
Three models of employee ownership: worker cooperative, EOT and ESOP – overcoming barriers – important choices – pros and cons
PurposeThe purpose of this paper is to compare three models of employee ownership and to identify pros and cons in relation to how the models can overcome the barriers. Which choices are important when defining the overall rules around the models and the specific possibilities for variations and combinations and what are the pros and cons for these choices?Design/methodology/approachThe comparison is based on the three main models of employee ownership identified from the country descriptions in this special issue.FindingsThe models do not exclude each other. The models can all be promoted in a specific country, leaving the choice of specific model to the stakeholders involved in the establishment of the employee-owned company. The article also shows the possibility of combining different models and in this way to adjust to specific preferences and conditions – e.g. whether employees and other stakeholders want collective or individual ownership and whether it concerns a start-up or a succession company.Originality/valueThis paper identified the key differences and similarities of different models for employee ownership including pros and cons of worker cooperative vs the Employee Ownership Trust (EOT) and the Employee Stock Ownership Plan (ESOP) models.
Journal Article