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Insight

A Catalyst for Change

Graeme Nuttall spoke at the ESOP Centre's annual conference in Paris on 21 June 2012 as Government independent adviser on employee ownership.  He explained his informal consultation on, and review of, Graeme Nuttall spoke at the ESOP Centre's annual conference in Paris on 21 June 2012 as Government independent adviser on employee ownership.  He explained his informal consultation on, and review of, the barriers to promoting employee ownership and the work to identify solutions.  Employee ownership is a tried and tested way of running a business.  Success stories such as Scott Bader Commonwealth Limited, Swann-Morton Limited and Arup Group Limited have spanned decades.  They have been added to by more recent conversions to employee ownership such as Wilkins & Sons Limited and Donald Insall Associates Limited. And yet the concept has remained at the margins of the economy.  What is different now is that there is unprecedented Government support and a significant body of research demonstrating the benefits of employee ownership.  Also, Graeme Nuttall's review has acted as a catalyst to bring about change.

Graeme referred to the very tax centred attitude towards employee share plans that has prevailed for too long.  He encouraged a different approach based around employee ownership as a business model in its own right: one aimed at delivering research based commercial benefits.  This clearer identity for employee ownership is part of the menu of solutions that can drive employee ownership into the mainstream economy.

Graeme Nuttall's review, containing his recommendations to Government, is due for publication on 4 July 2012 at a summit hosted by the Deputy Prime Minister, Nick Clegg.

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