Free Lunch by The Peak The Policy That's Made Grocery Cashiers Millionaires
In 2016 a long-time employee at the Publix grocery store chain in Atlanta cashed in over $1 million of the company's stock and retired early. That's because Publix employees are part of something called an employee ownership trust, which allows them to accumulate a stake in the business over time.
Employee ownership trusts already exist in the US and UK, and their advocates say they improve job satisfaction, boost performance, and lead to secure retirements. But in Canada, where setting up such a trust is difficult and costly, the model is rare.
Dan Skilleter, Director of Policy for Social Capital Partners, joins us to explain what Employee Ownership Trusts are, the details of how they work, and why he thinks they could reshape Canada's economy.
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Links:
- Read Social Capital Partners' report, "Building an employee ownership economy"
- More episodes of Free Lunch by The Peak: https://readthepeak.com/shows/free-lunch
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