Employee shareholders (previously called 'employee owners') were announced by George Osborne in the 2012 autumn budget as a new type of employment status. At its most basic, in exchange for being awarded at least £2,000-worth of shares in the employer, the employee would give up a bundle of employment rights, including the right to claim (most types of) unfair dismissal and the right to a redundancy payment.
Branded by some as unworkable, unnecessary and unwanted, the future of employee shareholder status looked uncertain when the House of Lords rejected it in two consecutive votes. Late last month, the legislation was passed in a watered-down form. We'll give you more information in a future bulletin, but it's looking like employee shareholder status may not be that attractive for employers after all.
Branded by some as unworkable, unnecessary and unwanted, the future of employee shareholder status looked uncertain when the House of Lords rejected it in two consecutive votes. Late last month, the legislation was passed in a watered-down form. We'll give you more information in a future bulletin, but it's looking like employee shareholder status may not be that attractive for employers after all.
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