Word: Employee Ownership
Definition:
Employee ownership is a noun that refers to a situation where the people who work for a business also own part of that business. This means that employees have a stake in the company and can benefit from its success.
Usage Instructions:
You can use "employee ownership" when talking about how a company is run or structured. It is often discussed in the context of business management, workplace culture, and economic models.
Example:
- "The company decided to implement employee ownership, allowing workers to buy shares and have a say in the company's decisions."
Advanced Usage:
In more advanced discussions, you might encounter terms like "employee stock ownership plan (ESOP)," which is a program that provides a company's workforce with an ownership interest in the company.
Word Variants:
- Employee-Owned (adjective): Describes a business that is owned by its employees.
- Example: "The employee-owned bakery is known for treating its workers fairly."
Different Meanings:
While "employee ownership" primarily refers to ownership by employees, it can also imply a sense of belonging and responsibility among employees towards the company’s success.
Synonyms:
- Worker ownership - Employee stock ownership
Idioms and Phrasal Verbs:
Though there are no specific idioms or phrasal verbs that directly relate to "employee ownership," you might hear phrases like "having a stake in," which means having a personal interest in something.