A New Future of Work and Wealth with Ownership Works
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:
- (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
Business is an unlikely hero: a force for good working to solve society's most pressing challenges, while boosting bottom line. This is social purpose at work. And it's a dynamic journey.
Purpose 360 is a masterclass in unlocking the potential of social purpose to ignite business and social impact. We illuminate the growing impacts of purpose, from engaging employees and fostering deeper consumer loyalty to inspiring product innovation and increasing market share.