Top Biden Economist: Encouraging Employee Ownership Could Improve Job Quality, Increase Workers’ Wealth & Productivity

Home Reports Top Biden Economist: Encouraging Employee Ownership Could Improve Job Quality, Increase Workers’ Wealth & Productivity

A study by Jared Bernstein – who was recently named to President Joe Biden’s White House Council of Economic Advisors – examines the benefits of employee stock ownership plans (ESOPs) and, given that there are still relatively few U.S. ESOPs, proposes ways to encourage the formation of more employee-owned businesses. The study, conducted with support from the Employee-Owned S Corporations of America (ESCA), uncovers obstacles to the creation of ESOPs and urges policy and private sector leaders to take steps and find new approaches to remove these barriers. Bernstein, who is currently Senior Fellow at the Center on Budget and Policy Priorities, finds that “education and awareness about private ESOP structures, both for owners and their professional advisors, are the most frequent hurdles to ESOP creation,” and that other hurdles include what he calls “opportunity costs of owners” who may not want to invest the time and resources needed to set up an ESOP as they plan their exit strategies.

Latest Reports

2021 John Zogby Survey Finds that S ESOP Employees Fared Better in the COVID-19 Pandemic Than Non-ESOP Employees

A survey done by John Zogby in 2021 tells an encouraging story about the financial stability of S ESOP employees during the COVID-19 pandemic.

Read Report

Top Biden Economist: Encouraging Employee Ownership Could Improve Job Quality, Increase Workers’ Wealth & Productivity

A study by Jared Bernstein examines the benefits of employee stock ownership plans (ESOPs) and proposes ways to encourage the formation of more employee-owned businesses.

Read Report

John Zogby Strategies Survey Finds ESOP Millennials Are Better Prepared For Retirement Than Their Peers At Non-ESOP Companies

In September 2019, John Zogby Strategies released a survey that found millennials working at employee-owned companies are far better prepared for retirement than other working millennials.

Read Report