Employee Ownership Blog

Corey Rosen

CHIPS Act Adds Employee Ownership to Manufacturing and Innovation Training Programs

Congress has passed HR 4346, the CHIPS Act (previously called the America Competes Act), which now heads to Presdient Biden for signature. The bipartisan bill is primarily designed to make it easier for American chip and other technology manufacturers to compete worldwide, but it also contains a pilot provision (Section 25B) that directs Manufacturing Extension Partnerships (MEPs) to provide awards for a variety of worker education and training programs, including employee ownership.

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Charles Chang, Kim Blaugher

Brush Up on ESOP Corporate Governance

Robust and cohesive corporate governance is key to ensure that companies function effectively. Corporate governance is an umbrella term that includes specific issues arising from interactions among senior management, shareholders, the board of directors, and other corporate stakeholders. These interactions result in decisions that steer a company toward success or failure, making it crucial to understand the roles and responsibilities of each stakeholder. 

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Corey Rosen

House Committee Urges SBA to Fully Implement Main Street EO Act

On June 28, 2022, the House introduced HR 8254, which provides funding for a variety of government agencies, including the Small Business Administration (SBA). In a report accompanying the bill, the House Appropriations Committee urged the SBA to fully implement the Main Street Employee Ownership Act (MSEOA), which was passed in 2018 but has seen only limited use because the SBA-issued standard operating procedures directly undermine the intent of the Act. The report does not have legislative force, but such reports, coming from the committee that appropriates funds for the agency, are usually taken seriously. The report states:

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Corey Rosen

Using Skill Assessments to Improve Ownership Culture

At an NCEO Innovative Communication Coalition network meeting on July 18, communication team leaders from a number of NCEO member companies discussed how they use skill assessments. Lori Atone of TVF said they use the CliftonStrengths assessment (formerly StrengthsFinder) to increase self-awareness and understand their fellow employee-owners better. They create a grid that lists the top 10 strengths of each employee by name. The idea is to focus only on the positives, to help identify potential talents, and to make it easier to assemble well-balanced teams. They feel helping employee-owners contribute in a way that’s aligned with their natural strengths amplifies the employee ownership mindset and will increase engagement in a fun and meaningful way. Managers can use the results to help get people engaged in ways that “feel right to them” and find new paths for participation. Employees have responded to the idea very favorably.

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Corey Rosen

Massachusetts House Passes Bill to Establish State Employee Ownership Center

Massachusetts House Bill 5007, “An Act relating to economic growth and relief for the Commonwealth,” has passed the Massachusetts House without dissent. Among its many provisions, it would establish the Massachusetts Employee Ownership Center within the state government. In 2019, the state agreed to fund the Center as a separate entity operated by the ICA Group, a Massachusetts-based nonprofit that provides employee ownership consulting.

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Loren Rodgers

The NCEO Welcomes Our New Senior Director of Events

The NCEO is delighted to announce that, following a national job search, we have filled a new position that will oversee all of the NCEO's in-person and virtual events. The new position, our senior director of events, will be filled by Jaymie Oviedo, who is moving to this position from her prior NCEO staff role as our conference coordinator.

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Guenevere Abernathy

The Time for Employee Ownership Is Now

It’s a uniquely exciting time to be in the employee ownership space. Multiple pieces of legislation are being introduced and voted on both federally and in states across the nation. State centers around the country are back hosting in-person events that are boldly moving the employee ownership community forward. And here in North Carolina, we’re on the ground helping make employee ownership happen.

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