1. Employee Ownership & Making it a Success Dr David Erdal Johannesburg July 2012

2. Ordinary Ownership Business

3. All information All decisions All profit and cash

4. Digger?

6. Power

7. Or cooperation – voluntary, autonomous? Soccer City Stadium 2009

9. EO/ Co-ownership No Fixed Definitions Useful distinctions: Employee Share Ownership (minority) Employee Ownership (Control) 100% Employee Ownership Collective/ Trust vs Individual/Direct

10. If cooperation of autonomous people Then all are partners Partners’ rights: Information Influence Wealth

11. Success in EO

12. Acknowledge reality: People are cooperating as partners Share partners rights:

13. Information

14. Consult, listen

15. Anonymous Letters ‘The Registry’

16. Engage

17. Improvement groups Elected reps to meet with board Elected reps can veto key decisions Elected reps can sack chairman

18. Share Profits Reinvest to develop the business Distribute to owners John Lewis £165 m bonus (7 weeks) M&S £268 m to shareholders

19. Everyone an owner Trust? Free shares? Pension fund? (US ESOP)

20. With employee ownership Companies do better People do better