EOA believes employee ownership is a significant issue which is critical towards considering the future of work and workers in Australia, especially given the Terms of Reference of the Senate Enquiry, namely:
(a) the future earnings, job security, employment status and working patterns of Australians;
(b) the wider effects of that change on inequality, the economy, government and society; and
(c) the adequacy of Australia’s laws, including industrial relations laws and regulations, policies and institutions to prepare Australians for that change.
In its submission, EOA made recommendations as to how employee ownership may be better facilitated and regulated to ensure effective and attractive employee ownership models for the future Australian workforce.
EOA sees the role of employee ownership being very relevant for engagement, connection and culture in the Australian workforce.
The evidence presented on employee ownership demonstrates that it is good for employees, business, society and the broader economy, and thus has the potential to contribute in future to increased employee engagement, wellbeing, job security, and satisfaction at work.
EOA contends that increased diversity in ownership forms is essential to a more sustainable economy and to a fairer and more and equitable society.
To achieve better outcomes for work and workers in future, EOA made four recommendations for the consideration of the Senate Committee, as can be seen in the “Submission”.
EOA Chair, Benjamin Morris and Deputy Chair, Andrew Clements addressed the Sydney Public Hearing of the Senate Enquiry on 21st February to put EOA’s case for reform. The Transcripts of the Hearing can be accessed here, pages 34 to 40.
