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ESOD17: ‘Increased employee ownership is vital to maintain competitiveness’

By June 29, 2017No Comments

Ireland’s first ever Employee Share Ownership Day has been told that increased employee financial involvement in Irish companies is vital to maintain our competitiveness.

More than 150 delegates attended ESOD17 at Google HQ in Dublin today (June 22). They heard that Ireland lagged our EU and global competitors when it comes to incentivising employee ownership, and that the Government needed to improve their approach by increasing the variety of Revenue-approved employee share schemes, particularly for the SME sector.

IPSA CEO Gill Brennan said: “The benefits of employee ownership are proven the world over. Companies where employees have a stake in the business are more productive, more competitive and more successful. They are better placed to attract and retain high-quality staff and, in turn, those workers are highly motivated to do well.

“The Government needs to do more to improve and support employee share schemes. Not only do they provide regular employees with the opportunity to improve their earning capacity, but the State benefits because of the increased profitability and tax take from businesses which adopt some form of employee share ownership.”

Global experts at ESOD17 provided delegates with workshops on legal, tax, communications, recruitment, and employee engagement aspects of employee incentives and ownership for businesses of all sizes.

The day was followed by the annual IPSA Awards at The Conrad Hotel in Dublin that night.