Fifty by Fifty is catalyzing a movement to scale up employee ownership
Our goal: 50 million employee owners in the US by 2050
An initiative of The Democracy Collaborative, Fifty by Fifty is aimed at creating a more inclusive economy through employee ownership. Our goal is to catalyze a movement with the knowledge, resources, and skills to grow the number of employee owners in the U.S. to 50 million Americans by 2050.
The latest employee ownership news
State Centers for Employee Ownership could ramp up their education and outreach to business owners, business service providers, and state leaders with SSBCI technical assistance funds.
Could SSBCI 2.0 provide the capital to begin to significantly redistribute business ownership?
As a field we will need to work hard to build the pathways for capital and technical assistance within the SSBCI program.
New data shows Minnesotans over 55 own 52,000 local businesses.
Acquisition extends Evergreen network and adds 35 good-paying jobs.
City seeks ideas on shared ownership of businesses, housing, and land As it looks to spur economic recovery in the wake of the pandemic, New York City is searching for solutions that will address long-term economic disparities. The Brooklyn Reader reports, the City has put out a Request for Information on the Issue of Shared…
Federal legislation could broaden access to employee ownership.
Equitable Economy Fund will provide early-stage equity.
Aspen Institute releases issue brief that details policy and practice interventions.
“It takes a job to get out of poverty but it takes assets to stay out of poverty. Ownership shares increase in value over time, generating wealth and security.”
—Fifty by Fifty cofounder Marjorie Kelly
Employee ownership offers a solution to the vast income and wealth inequality that is undermining America’s economy.
GOOD FOR EMPLOYEES
- WAGES: Employee owners earn average wages 5 to 12 percent higher than employees in conventional firms.
- WEALTH: The net worth of employee owners aged 28 to 34 is 92 percent higher than for non-employee owners.
- RETIREMENT SAVINGS: The average retirement savings for an ESOP employee is $170,000, twice the national average.
GOOD FOR BUSINESS
- TURNOVER: Employee engagement is higher and turnover is lower at employee-owned companies.
- GROWTH: Transitions to employee ownership increase productivity by more than 4 percent.
- STABILITY: Employee owners are one-fourth as likely to be laid off and their companies go bankrupt less frequently.
GOOD FOR COMMUNITIES
- JOBS: Employee ownership saves local jobs, because companies that are owned by their employees are far less likely to leave their communities.
- LOCAL WEALTH: Employee ownership keeps wealth circulating in local communities.
GOOD FOR OWNERS
- LEGACY: When business owners sell their businesses to their employees, they can keep their legacy alive for generations to come.
- SAVINGS: Entrepreneurs and family owners can realize the value the business has built while enjoying substantial tax savings.
- RESPONSIBILITY: Business founders and families can find ready buyers in employees, avoiding sale to those who would dismantle the business.