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Shared Capitalism at WorkEmployee Ownership, Profit and Gain Sharing, and Broad-Based Stock Options$
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Douglas L. Kruse, Richard B. Freeman, and Joseph R. Blasi

Print publication date: 2010

Print ISBN-13: 9780226056951

Published to Chicago Scholarship Online: February 2013

DOI: 10.7208/chicago/9780226056968.001.0001

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Creating a Bigger Pie? The Effects of Employee Ownership, Profit Sharing, and Stock Options on Workplace Performance

Creating a Bigger Pie? The Effects of Employee Ownership, Profit Sharing, and Stock Options on Workplace Performance

Chapter:
(p.139) 4 Creating a Bigger Pie? The Effects of Employee Ownership, Profit Sharing, and Stock Options on Workplace Performance
Source:
Shared Capitalism at Work
Author(s):

Joseph R. Blasi

Richard B. Freeman

Christopher Mackin

Douglas L. Kruse

Publisher:
University of Chicago Press
DOI:10.7208/chicago/9780226056968.003.0005

This chapter analyzes the relationship of various forms of shared capitalist compensation to six workplace outcomes—turnover, absenteeism, perceived effort of co-workers, loyalty to the firm, willingness to work hard, and frequency of worker suggestions to improve productivity from the perspective of shared capitalism. It also examines employee responses to questions about their response to shared capitalist incentives and analysis using the General Social Survey (GSS) and NBER data sets. It states that shared capitalism affects workplace performance and substantiated by the fact that the results from the NBER sample are broadly similar to the results from the nationally-representative GSS. Shared capitalism is linked to lower turnover and greater loyalty and willingness to work hard, particularly when combined with high-performance policies, low levels of supervision, and fixed pay at or above market levels. Workplaces where workers average more shared capitalist compensation report greater employee effort along several dimensions.

Keywords:   shared capitalism, workers, General Social Survey, National Bureau of Economic Research, workplace performance, turnover, loyalty, employee ownership, profit sharing

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