Resource Roundup

Forward-looking employers have long sought to establish a culture of engagement among their workforces. The greater employees’ dedication, the thinking goes, the greater their contributions to a company’s success.

Uplifting employee engagement practices that bring concrete benefits for workers, as well as employers, is an important element of our work at the Aspen Institute Economic Opportunities Program. Well designed employee ownership builds on engagement by ensuring that employees share in companies’ financial success — in addition to sharing in workplace decision-making.

In this edition of Resource Roundup, learn from The Philadelphia Citizen about the various forms that employee ownership can take and how cities can raise awareness about it. In addition, find out how Colorado’s government is moving employee ownership forward in reporting from Colorado Newsline. Employee ownership has even offered a path forward for local journalism, as documented in a recent report by the Poynter Institute. 

---

The Philadelphia Citizen

Ideas We Should Steal: More Worker-Owned Businesses

Many employee-owned companies, whether ESOPs, cooperatives, or trusts, give their companies a say in decision-making and a share of the pie. Incorporating employee ownership into municipal economic strategy offers promise for addressing wealth inequality and growing workplace democracy. This is especially valuable in localities where the minimum wage remains stuck at $7.25 an hour. 

Pittsburgh stands an example. A city task force launched an advertising campaign to raise awareness and created tools to help those interested in employee ownership find needed resources. These efforts contributed to a significant increase in the number of employee-owned companies and employee-owners.

Read more in the Philadelphia Citizen about what cities are doing to support the growth of employee ownership and employees’ experiences holding a stake in their companies.

---

Colorado Newsline

Colorado grows friendlier to companies switching to employee-owned model

Colorado has transformed into a hotbed of employee ownership, thanks in part to strong support from the state government.

The state’s Office of Economic Development and International Trade and its Employee Ownership Commission take a comprehensive approach, connecting interested businesses to the consulting services and financial support, including tax credits, necessary for conversion. Importantly, Colorado’s work gives retiring owners an alternative to closing down or selling to private equity, helping keep businesses in the community. 

Colorado Newsline detailed what Colorado has been doing to build an employee ownership network in the state. Learn more about those efforts here. 

---

Poynter Institute

Why more and more journalists are launching worker-owned outlets

An independent press is fundamental to our democracy. Yet newsrooms continue to be bought out by private equity and downsize — and news deserts are growing. Amid these changes, one group of journalists in California found that employee ownership can offer a new path forward to locally rooted reporting. 

Find out more from the Poynter Institute about the promise and challenges of employee ownership in the media industry.