Worker participation in corporate governance
How to bring perspectives from the workforce into the boardroom
The UK has one of the lowest levels of worker participation in company decision making in Europe. The High Pay Centre is calling for policy measures including:
- Increasing the appointment of worker directors.
- Incorporating ‘worker voice’ into consideration when considering companies’ bids for public contracts.
- Formal rights for trade unions and employee forums to be consulted on major business practice and strategic issues.
- Guaranteeing trade unions reasonable access to workplaces, to inform workers about their employment rights and the benefits of union membership.
- More detailed guidance in the corporate governance code and the wates principles that set out expectations of Britain’s biggest businesses in respect of how they involve their workforce in decision making.