In this statement on the economic response to coronavirus, ICA group describes reasons why employee ownership, which helps stabilize workers, businesses and communities, is an important business model to consider during the COVID-19 response. It especially focuses on employee ownership as a pathway to supporting low income workers of color disproportionately impacted by the pandemic. The document identifies policy responses to help expand employee ownership models and may be particularly useful for employers, advocates, and economic development organizations.

This white paper provides a primer on open-book management, an approach to sharing financial information with workers to strengthen decision-making. Topics covered include the basics of open-book management, benefits and challenges associated with this strategy, and actionable steps that companies can take to apply open-book management in their business. This resource may be particularly helpful for employers and business support organizations interested in strengthening employee engagement and involving workers in a broader range of decisions.

The Employee Ownership Toolkit is a step-by-step guide for transitioning a company to cooperative ownership. The experience of South Mountain Company is described in detail, helping bridge the gap between theory and practice. Definitions of certain technical terms, particularly concerning finance, are also provided.

The pandemic placed the economy into a sickening tailspin. Did it also catalyze advantageous changes that expand opportunity and equity? Companies can share economic success through various models. Employee Stock Ownership Plans (ESOPs), worker cooperatives, profit sharing, and forms of equity participation all present different opportunities to share that success. Employee-owned firms have also shown strong resilience through economic downturns and often use management approaches that lead to higher-quality jobs. How can these strategies help shape economic rebuilding? How can they address the inequalities and inequities that have divided our society and help us build a more resilient economy?

In this article, the authors present findings from their research demonstrating the benefits of profit-sharing and worker ownership models for both employees and businesses. They describe different models of profit-sharing and also cite past studies documenting a range of benefits for employees participating in these businesses, including higher wages and better benefits compared to peers. This article has application for business leaders exploring different job quality strategies as well as policy and economic development leaders positioned to expand the use of profit-sharing models.

The Aspen Institute Economic Opportunities Program, together with the Rockefeller Foundation, brought together a set of experts and individuals leading work in states and communities to discuss ways in which Opportunity Fund investments could finance ESOP conversion opportunities, and develop ideas to include employee share ownership within an Opportunity Zone’s inclusive economic development strategy in general. Based on the day’s discussion, the Economic Opportunities Program drafted a memo on how employee share ownership could contribute to the expansion of economic opportunity within Qualified Opportunity Zones and summarizes key issues regarding how to align the mechanics of investing in ESOP conversions with the regulatory framework governing Opportunity Fund investments.

While the low quality of many “essential” jobs became more apparent during the pandemic, the issue of low-quality jobs is longstanding. This publication is based on a survey of organizations about their efforts to advance job quality. Survey responses were gathered before the effects of the pandemic took hold, and understanding perspectives on job quality then can give us important insights as we tackle the urgent challenge of improving job quality now. Many organizations are working to improve job quality both within their own organizations and externally, but they face a variety of challenges. They are eager for more tools and resources to support their efforts.

This op-ed discusses how employee ownership offers a promising path forward to help the US address wealth inequality.

In recent decades, workers’ paychecks have remained stagnant, despite increases in productivity. At the same time, returns to wealth have increased. Strategies that transform workers into owners, such as employee share ownership strategies, have the potential to give working people a stake in our growing economy and include them in the nation’s prosperity. With employee share ownership strategies, employees may hold a majority of shares as participants in an Employee Stock Ownership Plan (ESOP), be members of a worker cooperative, or have a meaningful stake in a public company or start-up. Business leaders often emphasize the value of employee engagement, and many have found that these strategies contribute to higher levels of worker engagement, relative to that of peer companies. In this event, panelists discuss how employee share ownership strategies help workers to share in the success of their companies, while promoting business success.

This brief provides an overview of the role of impact investing for employee ownership, including the role of community development financial institutions (CDFIs). It shows how employee ownership transitions advance environmental, social, and governance (ESG) principles and should therefore be supported by impact investors. Case examples model the effectiveness of CDFIs in financing employee ownership.