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Financial Participation

Financial participation is still not very widespread in Greece. In the public debate there is no distinctive general attitude towards financial participation. Neither the employees, the employers nor the government side have taken specific initiatives to change this situation.

 

 

Financial participation of employees enjoyed much attention and a positive attitude by the government until the beginning of the 1990s.1 However, no further initiatives to foster employee financial participation have been undertaken since then.

 

The fifth European Working Conditions Survey (EWCS)2 based on a survey of employee representatives shows a quite low incidence of financial participation schemes among employees in the private sector. Only about 3% of employees were able to take advantage of a profit-sharing scheme in 2010. The incidence of employee share ownership (about 0.2%) is even lower. In 2007, 13% of companies listed on the Athens stock exchange offered share option plans, though only 1.8% of employees participated.3 This shows that, despite the then advantageous tax treatment, employee financial participation remains very low in Greece.

 

Wilke, Maack and Partner (2014) Country reports on Financial Participation in Europe. Prepared for www.worker-participation.eu. Reports first published in 2007 and fully updated in 2014.