Millions of Americans lack the stability and security that wealth bestows. Even many two-income households are living paycheck to paycheck, struggling to meet their basic needs and lacking financial security in case of an emergency. Strikingly, the bottom 25% of households have a medium net worth of only $300 and 26% of workers have no money saved for retirement.
Ownership Works, a nonprofit organization, is working to change that by partnering with companies to provide employees with the opportunity to build wealth at work. Through shared ownership, all employees – from management to the assembly line – become owners in the company.
We invited Pete Stavros, Founder of Ownership Works, to explain the nonprofit’s approach to broad-based employee ownership and its proven impact on company culture, financial returns, and employees’ financial security.
Listen for Pete’s insights on:
● How shared ownership directly impacts corporate performance.
● How Ownership Works uses data to track equity by level and demographics.
● What pitfalls to avoid when introducing shared ownership.
● What is necessary for shared ownership to be successful in a company.
Resources + Links:
● Ownership Works & Ingersoll Rand Case Study
● Ownership Works & C.H.I Overhead Doors Case Study
● Employee Ownership: Wall Street Agrees That Ownership Works (Forbes)
- (00:00) – Welcome to Purpose 360
- (00:13) – Pete Stavros – Ownership Works
- (05:33) – Pete’s Background
- (09:07) – The Genesis
- (13:47) – Making It a Not-for-Profit
- (16:32) – Vision
- (21:11) – Video Clips
- (22:48) – Case Example
- (27:23) – The Type of Company for This
- (33:05) – How Investors Feel
- (34:10) – Potholes
- (37:47) – Partners
- (40:13) – The Future
- (42:36) – Handling Growth
- (44:51) – The Name
- (46:02) – The Last Word
- (50:09) – Wrap Up
