Dick Smith Holdings excels in employee ownership

by Admin on May 27, 2014

Dick Smith’s commitment to employee ownership and participation saw them take out Best New Employee Share Plan last night, joining Telstra, Brambles, Computershare and other winners at the Annual Employee Ownership Conference and Awards, at PwC Sydney.

The awards recognise excellence in employee ownership and employee share plans.

“At any one of Dick Smith’s retail stores across the country, you might be served by an employee who is also an owner,” said Angela Perry, Chair, Employee Ownership Australia and New Zealand (EOANZ) and Global Head of Business Development, EPS.

An impressive 70% of the eligible employees in 2014 took up the company’s offer to become shareholders in the business. Judges were particularly impressed by Dick Smith’s engagement with staff on share ownership.

“Treasurer Joe Hockey’s call to arms for Australians to recognise that self-interest is aided by looking after collective-interest, this would be encouraged by a reversal of 2009 legislation changes to employee share schemes,” said Perry.

Speaking at the conference earlier in the day, Tony Smith MP, Federal Member for Casey, said that Employee share ownership is crucial to innovation and much momentum had been built following an EOANZ presentation to the Government’s Economics and Finance Committee in March, which he chairs. “I feel confident. Momentum is building”, he said.

Winner of Best Performance in Fostering Long Term Share Ownership (less than 1,000 employees), acQuire Technology Director, Tadhg MacCarthy, said despite some regulatory challenges, they had powered ahead with their plan as it made the company more competitive.

EOANZ believes that acQuire’s example shows how employee ownership can inspire and drive any company’s growth, “acQuire’s commitment to employee ownership in the current climate highlights what could result if the tax and regulatory regime were improved and employee ownership is encouraged,” said Perry.

List of winners in six categories attached:

Media contact:

For an interview with Angela Perry, Chair, EOANZ, please contact Suzanne Henderson, Sommerson Communications: 0407 104 268 | sommerson1@optusnet.com.au

{ 1 comment… read it below or add one }

Klaas Woldring October 9, 2014 at 4:26 am

Hi all,

We have seen encouraging statements by Liberal politicians Tony Smith and even the Treasurer Joe Hockey
that Employee Share Ownership is a good thing for employers, employees and the economy. What concrete steps have been taken thus far by the Abbott Government to reverse the tax measures in 2009 and add to that significant further encouragement for business to develop ESOPs? Have they perhaps pointed out to the Productivity Commission that this Commission have never researched the productivity benefits of employee share ownership and participation and that it would be a very useful good idea to do this? I have been out of the loop a little with this, busily engaged defending the environment and the ABC in the light of attacks by the Abbott Government. Please let us hear what may be coming.

Klaas Woldring.

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