Gingerbread
7th Feb 2009, 02:05
Have read with interest a number of Prune threads making passing reference to staff taking up equity in their airline.
Know the idea is contentious, and probably doesn't sit easy with employees, management or unions. Nevertheless, at a time when many airlines will shrink, if not disappear; taking up employee ownership might just be an idea that can save us all.
While many US pilots and ginger-beers, are, or have been, a part of their company's employee share plan, it's yet to take off in Australia in a big way.
The concept is getting a bit of a run on the Qantas pilots website, but many PP's aren't pilots and can't access that site. Nevertheless, just about all Qantas staff are eligible to participate in their Company's share plan purchase to acquire up to $10,000 worth of Qantas equity on favourable Ts& Cs.
Hopefully a dedicated Prune Thread available to all Qantas staff is the way to get the debate rolling. The idea is not a new one. Couple of years ago the UK Chancellor of the Exchequer (now PM) Gordon Brown made the following statement:
Employee ownership is world changing. It is the way ahead for the UK in the global economy. It reflects that human capital is becoming more important than physical assets. A company is more and more defined by its skills. It relies more on its creative energies. I am here to celebrate the great achievement of employee ownership. The global economy will succeed when employees feel they have a stake in the business.Now that BA has stated publicly that it was considering a pay freeze for its 42,000 staff after reporting a £70 million loss in the first nine months of its financial year, expect that having a PM that at least supports rewarding staff with shares, can’t be a bad thing.
Virgin & Qantas aren’t in the same predicament as BA yet, but 2009 has only just begun and expect sooner rather than later, both airlines will have to make some tough decisions if they are going to continue to buy new aircraft.
Standing by for incoming.
Know the idea is contentious, and probably doesn't sit easy with employees, management or unions. Nevertheless, at a time when many airlines will shrink, if not disappear; taking up employee ownership might just be an idea that can save us all.
While many US pilots and ginger-beers, are, or have been, a part of their company's employee share plan, it's yet to take off in Australia in a big way.
The concept is getting a bit of a run on the Qantas pilots website, but many PP's aren't pilots and can't access that site. Nevertheless, just about all Qantas staff are eligible to participate in their Company's share plan purchase to acquire up to $10,000 worth of Qantas equity on favourable Ts& Cs.
Hopefully a dedicated Prune Thread available to all Qantas staff is the way to get the debate rolling. The idea is not a new one. Couple of years ago the UK Chancellor of the Exchequer (now PM) Gordon Brown made the following statement:
Employee ownership is world changing. It is the way ahead for the UK in the global economy. It reflects that human capital is becoming more important than physical assets. A company is more and more defined by its skills. It relies more on its creative energies. I am here to celebrate the great achievement of employee ownership. The global economy will succeed when employees feel they have a stake in the business.Now that BA has stated publicly that it was considering a pay freeze for its 42,000 staff after reporting a £70 million loss in the first nine months of its financial year, expect that having a PM that at least supports rewarding staff with shares, can’t be a bad thing.
Virgin & Qantas aren’t in the same predicament as BA yet, but 2009 has only just begun and expect sooner rather than later, both airlines will have to make some tough decisions if they are going to continue to buy new aircraft.
Standing by for incoming.