Tag: equity

He that overvalues himself will undervalue others, and he that undervalues others will oppress them

🎺 What Time Feels Like When You’re Improvising — “A great example of flow state is found in many improvised art forms, from music to acting to comedy to poetry, also known as “spontaneous creativity.” Improvisation is a highly complex form of creative behavior that justly inspires our awe and admiration. The ability to improvise requires cognitive flexibility, divergent thinking and discipline-specific skills, and it improves with training.”

💼 SEC proposes rules for giving gig workers equity — “The five-year pilot program would allow gig companies to issue equity as long as it’s no more than 15% of a worker’s compensation during a 12-month period, and no more than $75,000 in value during a 36-month period (based on the share price when it’s issued).”

🧠 Your Brain Is Not for Thinking — “Your brain’s most important job isn’t thinking; it’s running the systems of your body to keep you alive and well. According to recent findings in neuroscience, even when your brain does produce conscious thoughts and feelings, they are more in service to the needs of managing your body than you realize.”

Social Unrest Is the Inevitable Legacy of the Covid Pandemic — “Like turpentine on flames, Covid-19 has rekindled older divisions, resentments and inequities across the world. In the U.S., Black Americans suffer disproportionately from police brutality, but also from the coronavirus — now these traumas merge. And everywhere, the poor fare worse than the rich.”

👣 A new love for medieval-style travel — “We might today think of pilgrimage as a specifically religious form of travel. But even in the past, the sightseeing was as important as the spirituality. Dr Marion Turner, a scholar at Oxford University who studies Geoffrey Chaucer, points out that “it was a time away from ordinary society, and allowed for a time of play.”


Quotation-as-title by Dr Johnson. Image via xkcd.

The increase in worker-owned co-ops

This article by Eillie Anzilotti is a Fast Company ‘long read’. It’s US-focused and includes specific examples and case studies, but is, I think, more widely-applicable.

Anzilotti explains some of the benefits of worker-owned co-ops, which are increasing in number as the ‘baby boomer’ generation retires.

Because the people doing the work for the company are also the ones who own the company, they feel a greater sense of responsibility for and personal stake in helping the business succeed. While there’s still a lot of knowledge-sharing that needs to happen before co-ops go mainstream, recently, policymakers are taking notice of the benefits of worker cooperatives, and new legislation is on the way support their growth. And with millions of baby boomer-owned businesses set to change hands in the upcoming decades, this transition could be an opportunity to create more democratic workplaces across the country–if business owners, workers, and advocates can work together to convert these enterprises into employee-owned cooperatives.

Hilariously, Anzilotti calls the retirement of the boomer generation a ‘silver tsunami’ which, more seriously, provides a huge opportunity to wrest back control from organisations that exist for the benefit of the few.

But instead of selling to a private owner, there’s a real opportunity amid this “silver tsunami” to radically scale the presence of worker-owned cooperatives in the U.S. “Historically, co-ops do best when there’s a market failure,” says Melissa Hoover, founding executive director of DAWI. During the Great Depression, for instance, farmers struggling to access energy resources, set up electrical cooperatives that they collectively owned, and cooperative housing models took off in some cities. Nearly a century later, we’re living through our own version of market failure. As banks have consolidated, capital for small businesses has grown scarce. More small businesses are now closing than opening in the U.S., and jobs are consistently failing to provide livable wages to employees.

Small businesses are vital in the economy, but to really make a change, we need larger, stronger businesses. Worker-owned co-ops can do that.

Employee-owned cooperatives… create a stronger base from which a business can continue to exist, and even grow. The workers already have demonstrated their commitment to the company and the community in which it operates, and granting them ownership allows the business to continue to operate and the community to continue to reap the benefits. And because the sales are done in a way that’s transparent and mutually beneficial, the selling business owners also get a fairer shake.

The difficulty, as Anzilotti notes, is that talking about democratic control of the organisation for which you work isn’t necessarily the most scintillating topic of conversation.

“Co-ops are not whiz-bang businesses that are going to get anybody rich,” Hoover says. “They’re bread and butter types–necessary and profitable, but not sexy.” Still, communities and policymakers alike are recognizing that their shared ownership structure can provide the kind of stability that the market cannot. “We’ve seen growing interest in rapidly changing cities and in rural areas where they’re really trying to make capital investments that anchor community wealth,” Hoover says. “Business retention makes more sense than trying to attract Amazon HQ2,” she adds. “Why don’t we invest in our local ecosystem and retain what’s already here?”

I have to say that the process of setting up We Are Open Co-op has been one of the most eye-opening experiences of my life. I’d highly recommend looking into the co-operatives for your organisation, whether extant or nascent.

Source: Fast Company
 

Owners need to invest in employees to have them feel invested in their work

Jim Whitehurst, CEO of Red Hat, writes:

As the nature of work changes, the factors keeping people invested in and motivated by that work are changing, too. What’s clear is that our conventional strategies for cultivating engagement may no longer work. We need to rethink our approach.

I think it’s great that forward-thinking organisations are trying to find ways to make work more fulfilling, and be part of a more holistic approach to life.

Current research suggests that extrinsic rewards (like bonuses or promotions) are great at motivating people to perform routine tasks—but are actually counterproductive when we use them to motivate creative problem-solving or innovation. That means that the value of intrinsic motivation is rising, which is why cultivating employee engagement is such an important topic right now.

Don’t get me wrong: I’m not suggesting that people no longer want to be paid for their work. But a paycheck alone is no longer enough to maintain engagement. As work becomes more difficult to specify and observe, managers have to ensure excellent performance via methods other than prescription, observation, and inspection. Micromanaging complex work is impossible.

Whitehurst suggests that there are three things organisations can do. I’d support all of these:

  1. Connect to a mission and purpose
  2. Reconsider your view of failure
  3. Cultivate a sense of ownership

However, what I think is startlingly missing from almost every vision from people 40+ is that they should be thinking about actual employee ownership — not just cultivating a ‘sense’ of it.

Don’t get me wrong, forming a co-op doesn’t automatically guarantee worker satisfaction, but it’s a whole lot more motivating when you know you’re not just working to make someone else rich.

Source: opensource.com