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The Association of the Employee Shareownersof BBL (now ING) was
born in 1992. At this time, BBL was a leader company, regarding
employee share ownership. For a long time, all employees of the
bank was encouraged to take part in the capital of the company,
and they held some 8,5% of the shares, being its second main shareholder.
Following its integration to ING Group, employee share ownership
felt dramatically along years. The Group had no interest for its
employees participation in capital. Furthermore, ING used shares
with no voting rights, which discouraged participation.
Recently,
ING took the decision to conform with some common rules on corporate
governance, coming back to share certificate owners to vote in
shareholders meetings. The Group changing on this topic, we certainly
can see it going back to better feelings, also about employee
ownership. As
a matter of fact, those last years, the contrast is gripping between
ING and the rest of the market. Everywhere employee ownership
is supported and in progression and its beneficial effects are
showed and recognized. The Group will have to adapt itself. This
is our association's objective.
At European
level:
Employee ownership is considered as worthwhile for the beneficiaries,
as it is practiced in good conditions. It also increases the enterprises
performances. It contributes to quality employment and to
public health.
It is a factor of employment creation and it is now recognized
by the European Union as an element of the Lisbon's Strategy.
It is also a factor of sustainable
development and an element for corporate
social responsibility. Countries where employee ownership
is the most appreciated are those who have been developing it
for a long time and where the good practices had the time to prove
their worth. In this way, at European level, we are going to a
recognized whole combination of good practices rules.
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