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Financial Participation

While both trade unions and employers’ associations declare their support to employee financial participation and its legislative definition, they differ in some views.

 

Employers insist that employee financial participation is voluntary for both employees and employers and should contribute to employee motivation. The provisions on using tax concessions should apply to all. Furthermore, employers demand that financial participation schemes should not increase labour costs. On the other hand, trade unions agree with employers that financial participation should be voluntary for both employees and employers and agreements on financial participation should be negotiated at company level. Trade unions insist that employees who do not want to participate in financial participation schemes have no disadvantages. Furthermore, employee shareholders should have the same rights as other shareholders, for example, regarding voting rights, the right to sell shares on the market, etc.. Moreover, trade unions demand that participation in such schemes must not be dependent on personal performance, and that employees are able to withdraw from the schemes.1

The Association of Free Trade Unions of Slovenia (Zveza svobodnih sindikatov Slovenije, ZSSS) is in support of employee financial participation. As far as the association is concerned, a balanced combination of different forms of participation as complementary instruments is very important. However, ZSSS is more in favour of employee share ownership, regarded as a factor of economic development, than profit-sharing. Finally, the Confederation of Trade Unions of Slovenia, Pergam (Konfederacija sindikatov Pergam Slovenije, Pergam) supports profit-sharing, because immediate effects are seen, whereas employee share ownership is seen as more suitable for services and highly productive sectors/companies.2

The expansion of workers’ financial participation has met with approval not only among the social partners but also in the political arena.3 This is clear in particular from the various legislative initiatives introduced in the Slovenian parliament over the years.

 

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.