Employee engagement more than ownership
The Institute of Customer Service has warned that the deputy prime minister's call to boost levels of employee ownership approach will not be enough in and of itself to boost staff engagement levels across UK plc.
Nick Clegg has pledged to increase the productivity of UK business by increasing the number of companies owned by workers – but according to the Institute, he is over-simplifying employee engagement issues.
Speaking at a summit of the Institute of Chartered Accountants, Clegg pledged to build a “John Lewis Economy” where companies owned by their employees became more commonplace. Data from Co-operatives UK shows that firms owned by staff are growing 50% faster than the UK economy as a whole.
The deputy prime minister also confirmed that the coalition government would act on recommendations put forward in the final report from the Nuttall Review of Employee Ownership.