Worker-owned cooperatives are known to have a strong tradition and legacy in Europe, with Mondragon Corporation in Spain often stealing much of the international spotlight. Interest in worker-owned cooperatives is growing in the US, however, as people continue to look for ways to promote democracy in the workplace, create higher quality jobs, and build a more equitable economy. Alongside this interest is a growing body of research that has shown well-run cooperatives can be more resilient to economic shocks, experience less employee turnover, and achieve higher profit margins. Workers in cooperatives often benefit from better job security, equal or better pay than their peers, and more family-friendly workplaces.
Today, worker-owned cooperatives span numerous industries in the US, from home health care to manufacturing to ride-sharing. Some regions in the US have started to invest in and build supportive ecosystems for worker cooperatives in attempts to revitalize economies and offer a more inclusive approach to economic development. Efforts are also underway across the country to support retiring business owners in converting their business to employee ownership, including conversions to worker cooperatives. Despite this momentum, worker-owned cooperatives are a very small part of the US economy, and growing the model can be challenging. Financing, a lack of awareness, and the complexity of democratic management pose barriers to the worker-owned cooperative movement. How can we address these barriers to support the growth of cooperatives in the US? What role can worker cooperatives play in creating higher quality jobs and a more inclusive economy? What can we learn from successful cooperatives abroad and domestically about what works?
This event features a panel discussion with Hilary Abell (Project Equity), Sara Chester (The Industrial Commons), Esteban Kelly (U.S. Federation of Worker Cooperatives), Stacey Sutton (University of Illinois-Chicago), and moderator Maureen Conway (The Aspen Institute). It is the first discussion in a three-part series, “Employee Ownership’s Moment: Discussions on Advancing Policy and Practice.” For more information about this event — including speaker bios, video, audio, transcript, and additional resources — visit: https://www.aspeninstitute.org/events/democratizing-work-the-role-opportunities-and-challenges-of-worker-cooperatives-in-the-us/