ESPP Survey Shows Participants More Committed

A 2009 survey of 3,207 participants in employee stock purchase plans (ESPPs) by Computershare and the London School of Economics found that employees in the plans said they were more interested in the company, worked harder, and were less likely to look for a job in the coming year than those not in the plan. The survey looked at employees in the U.S., U.K., Ireland, South Africa, and Australia. Participants in the U.K. and Ireland were the most likely to be more committed across a broad range of issues; U.S. participants were only more committed on certain issues. The survey found that plan effects were larger among those members with greater contributions and share holdings.

The authors summed up their findings from workers as follows:

"UK and Ireland - going the extra mile in their job every day, working above their contractual hours, increasing workers' own motivation, reducing absence rates, increasing sense of co-ownership and organisational loyalty.
USA - working above their contractual hours, increasing workers' own motivation, reducing the probability of quitting, reducing absence rates and increasing the sense of co-ownership.
South Africa - working harder than others and reducing absence rates.
Australia - working above their contractual hours, acting to reduce co-
co-workers shirking, reducing the probability of quitting, increasing sense of co-ownership and organisational loyalty."

The study cannot address whether people are more committed because they are in the plan or are in the plan because they are more committed. It seems likely, based on other research about employee ownership and motivation, that the second relationship is more powerful. Details on the study can be found at this link.