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
Cofounder of The Drivers Cooperative discusses how the co-op is creating an alternative to exploitive ridesharing models.
Colorado launches employee ownership tax credit by Karen Kahn A promising model for how states can support more employee ownership conversions has just been put in place in Colorado, where Governor Jared Polis has long been a strong advocate for employee ownership. On January 1, the Employee Ownership Office at the Colorado Office of Economic…
The National Defense Authorization Act signed into law by President Biden on December 27 contains the first-ever government contracting program to specifically encourage ESOPs.
Stanford Social Innovation Review article argues for taking capital investment to scale.
WeFunder campaign shows community support for transforming the restaurant industry.
In a short video, Marjorie Kelly, senior fellow at The Democracy Collaborative, explains how the State Small Business Credit Initiative can be leveraged for employee ownership transitions.
To create demand, business schools need a new message.
Benchmarking survey shows coops offer better jobs, resulting in less turnover.
The $10 billion Treasury program allows for employee ownership investments.
“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.