A stake in success: Re-imagining employee share plans for the 2020s

As governance professionals, many of you will have been closely involved with employee share plans. ProShare, our membership body for those working in the industry, has worked closely with the Social Market Foundation on their independent report.

Description

As governance professionals, many of you will have been closely involved with employee share plans.

These plans have been shown to increase a company’s productivity and produce a more engaged and focused workforce, as well as one which is more financially resilient. Besides being a low-risk option for building up financial capital for those at all income levels, they align employees' interests with those investing financially in the company's shares.

Despite these benefits, there have been no key changes in how they are operated for 20 years and policymakers have low levels of knowledge or awareness.

ProShare, our membership body for those working in the industry, has worked closely with the Social Market Foundation on their independent report A Stake in Success: Employee share ownership and the Post Covid economy.

This new report makes a case for employee share ownership to form a key part of a ‘fair and strong economic recovery’ narrative as we emerge from the coronavirus crisis. It argues that the case for wider rates of employee share ownership is compelling and looks at how employee share ownership could play a role in tackling the UK’s productivity crisis, improving economic growth and innovation. We will also debate the outcomes for employees such as higher wages as well as bolstering the financial resilience of UK households.

Join us for the launch event of this key new report when the report authors will set out the case for expanding employee share ownership in the UK. This will be followed by a discussion on the report conclusions with our expert panel.

Speakers

Our panel was chaired by Claer Barrett, Consumer Editor, Financial Times. She was joined by:

Claer Barrett, Consumer Editor, Financial Times

Claer Barrett is the consumer editor. She writes the weekly Serious Money column and presents the FT's Money Clinic podcast and Business Clinic video series. Claer frequently appears as a commentator on radio and TV, talking about personal finance, consumer and small business issues, and she is a regular guest on Eddie Mair's Drive show on LBC Radio.

Scott Corfe, Research Director, Social Market Foundation

Scott Corfe joined the Social Market Foundation in 2017 and is the think tank’s Research Director. He authors research on a wide range of topics including consumer markets, taxation, low pay, housing and technology.

Before joining the SMF, Scott was Head of Macroeconomics and a Director at the economics consultancy Cebr, where he led much of the consultancy’s thought leadership and public policy research.

Scott’s expert insights are frequently sought after in publications including the Financial Times, the Guardian, the Times and the Daily Telegraph. Scott has appeared on BBC News, Sky News, Radio 4 and a range of other broadcast media.

Jonathan Djanogly, Conservative MP for Huntingdon

Jonathan Djanogly has been Member of Parliament for the Huntingdon constituency since 2001. He qualified as a lawyer and became a partner in a London City law firm specialising in corporate law and corporate governance.

Before election to Parliament, Jonathan served as a Councillor on Westminster City Council. In the House of Commons, Jonathan served on the Select Committees for Trade and Industry and also Exiting the EU. He was appointed Shadow Minister for Home, Constitutional and Legal Affairs, Shadow Solicitor General and also Shadow Minister Trade and Industry with specific responsibility for corporate governance and employment law.

During the Coalition government, Jonathan served as a Justice Minister with responsibility for the courts, legal aid and civil law. Jonathan is now joint chairman of the Corporate Responsibility All-Party Parliamentary Group.

Sarah Olney, Lib/Dem MP for Richmond Park

Sarah Olney is the Liberal Democrat MP for Richmond Park & North Kingston and a committed advocate for liberal values of inclusivity, opportunity and equality. Sarah is the Liberal Democrat spokesperson in Parliament for the Business, Energy, and Industrial Strategy, International Trade, and Transport. Sarah was first elected MP for Richmond Park in a by-election in December 2016, serving for six months until May 2017. She was re-elected in December 2019 to represent Richmond Park and North Kingston again. Sarah is a qualified accountant and worked for Barclays, National Physical Laboratory and Historic Royal Palaces before entering Parliament.

Peter Swabey, Policy and Research Director of The Chartered Governance Institute UK & Ireland and Executive Director, ProShare

Peter is the Policy & Research Director at The Chartered Governance Institute UK & Ireland. He is responsible for developing the Institute’s profile to members, regulators, policymakers, employers and other stakeholders by delivering thought leadership and lobbying campaigns aligned to the Institute’s strategy and promoting strong governance as the vital ingredient for success in organisations.

How to access this recording

This recording is available to view by everyone on the ProShare website.

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