by Laurent GUERBY
Sat Feb 24th, 2007 at 09:25:06 AM EST
New Economist says big day for co-op fans:
The joys of employee ownership
For Chris Dillow and other advocates of employee ownership, the last few days have been heady indeed. On Saturday it was revealed that the boards of the UK's two biggest co-operatives have agreed the terms of a merger that would form the world's largest consumer co-operative group, with a combined workforce of more than 87,000 staff and more than 4,500 sites. On Sunday The Observer reported that John Lewis plans massive expansion:
John Lewis Partnership is embarking on a highly aggressive expansion strategy which will see the employee-owned business create 35,000 new jobs and double its turnover to £12bn. ...A 10-year business plan, signed off by the partnership board in recent days, will see the retail concern boost its total workforce to 100,000 by 2017. The plan envisages John Lewis significantly increasing its 26 department stores and 184 Waitrose supermarkets.
From the diaries -- whataboutbob
Extract from a paper by Richard Reeves (PDF):
The best study undertaken of relative performance suggests a 19 per cent productivity lift from co-ownership. Applied across the economy, co-ownership would make the UK the most productive nation in the world. In a survey of managers in co-owner firms, 72 per cent reported that staff worked harder than in competitor companies, and 81 per cent that they took on more responsibility.
Anyone with more papers on this topic? As I said multiple times here, this seems to be a vastly under-studied area of economics. No wonder why?