This was a really interesting article. I think (please don't quote me) this business structure is an Employee Owned Business, and the governing body they describe sounds like a Worker Cooperative....
This was a really interesting article. I think (please don't quote me) this business structure is an Employee Owned Business, and the governing body they describe sounds like a Worker Cooperative.
The article provides an interesting view on running a business where profits aren't the number one priority, and highlights some of the benefits:
Promotes more equitable pay
May promote higher pay
Can improve morale
Etc...
I wonder if ownership models like this aren't more popular because this isn't a trade that many business founders are willing to make: trade a higher profit ceiling for worker benefits.
This also reminds me of other industries where this sort of governance also exists and similarly isn't particularly common, like in housing.
Its been 20 years since I worked in a resturaunt, but this brought flashbacks. There were constantly fights between FOH and BOH. Sexual harassment problems, employee churn. And this was a stable...
Its been 20 years since I worked in a resturaunt, but this brought flashbacks. There were constantly fights between FOH and BOH. Sexual harassment problems, employee churn. And this was a stable place...still open today.
They are ripe for worker cooperatives. Because the actual day to day of the restraunt biz already relies heavily on people being able to do each other's jobs, with the possible exception of cooks...and that's mostly just a byproduct of benefiting more from specialization.
I've seen successful worker owned coffee co-ops in my area. I think it's a fantastic business model, it lets shops focus on sustainable, financially accessible growth instead of exponential and...
I've seen successful worker owned coffee co-ops in my area. I think it's a fantastic business model, it lets shops focus on sustainable, financially accessible growth instead of exponential and credit driven growth that is predominant in capitalism. I think it's a great idea and I will support any of these businesses locally whenever I can.
This was a really interesting article. I think (please don't quote me) this business structure is an Employee Owned Business, and the governing body they describe sounds like a Worker Cooperative.
The article provides an interesting view on running a business where profits aren't the number one priority, and highlights some of the benefits:
I wonder if ownership models like this aren't more popular because this isn't a trade that many business founders are willing to make: trade a higher profit ceiling for worker benefits.
This also reminds me of other industries where this sort of governance also exists and similarly isn't particularly common, like in housing.
Having had friends who worked at worker co-ops, part of quitting was also selling your shares back to the company. It was baked into the contract.
Its been 20 years since I worked in a resturaunt, but this brought flashbacks. There were constantly fights between FOH and BOH. Sexual harassment problems, employee churn. And this was a stable place...still open today.
They are ripe for worker cooperatives. Because the actual day to day of the restraunt biz already relies heavily on people being able to do each other's jobs, with the possible exception of cooks...and that's mostly just a byproduct of benefiting more from specialization.
I don't love the title of this because it implies that the concept doesn't work. It does work, mostly in other countries, but it does work.
If anything it should work better because there's no fatcat skimming off the top
I've seen successful worker owned coffee co-ops in my area. I think it's a fantastic business model, it lets shops focus on sustainable, financially accessible growth instead of exponential and credit driven growth that is predominant in capitalism. I think it's a great idea and I will support any of these businesses locally whenever I can.