Tag Archives: John Lewis

Deputy Prime Minister Wants Employees “in the driving seat” in Britain

A number of articles have appeared recently regarding the response of Deputy Prime Minister of Britain, Nick Clegg, to Graeme Nuttall’s examination of methods to promote employee ownership and spread the benefits of employee ownership to the wider economy.

It’s not enough to talk about a new kind of capitalism: more balanced, more sustainable, fairer. We need to roll up our sleeves and build it – and that is what today is about.

. . . 

That’s why today I have announced that an Institute for Employee Ownership will be established, that there will be new off-the-shelf ‘DIY packs’ for companies to adopt the Employee Ownership business model and that we will issue a call for evidence from business and employees on how a right to request could work

The Nuttall Review was published on July 4, 2012 to summarize the existing research on the benefits of employee ownership, identify the key barriers in adopting employee ownership and reccommend ways of overcoming these barriers. The report can be viewed here

Related articles;

Responding to Nuttall – next steps to a John Lewis economy, Nick Clegg, Cabinet Office

British firms can be saved by employee ownership, says Deputy Prime Minister, Co-operative News

Nick Clegg seeks more employee ownership, BBC News

Nick Clegg to announce new employee ownership institute, The Guardian

Government shows support for employee ownership, Department for Business Innovation & Skill

A “Robust and Sustainable Economy” through Employee Ownership

This interesting article appeared recently on the Economic Intelligence Blog of U.S. News  explaining how Employee-Owned businesses are the key to a “more robust and sustainable economy.”

The article focuses on the success of John Lewis Partnership in England. A company that is 100% owned by its 81,000 employees, and boasted a $13.7 billion in 2011 revenues. While remaining profitable during the Great recession, the company also managed to provide fair compensation and give employees control over the business through a “generative ownership” model. U.S. companies likewise benefit from employee ownership, often out performing similar non employee-owned businesses with “lower staff turnover, higher trust, and greater shareholder value.”