Zaha Hadid Architects Announces Transfer of Employee Ownership
Zaha Hadid Architects Announces Transfer of Employee Ownership,
A week ago, Zaha Hadid Architects (ZHA) announced its transition to employee ownership through its Employee Benefits Fund (EBT).
As the late engineer began this experiment in 2011,
“I think there should be no end to the experiment.”
The company then contextualized the decision as an attempt to build a more democratic profession,
one to which access would be more equal in which every employee would have a voice.
The move was the culmination of a growing trend as, over the past decade,
an increasing number of companies have turned to employee ownership plans.
The reorganization also signals a more significant shift in the industry from hierarchical management to more democratic models.
ZHA was not the first to implement this experiment, although it is the most well known to date.
With offices in China and the UK, the 42-year-old practice now employs more than 500 employees.
So could this decision represent a seismic shift that will not only create ripples,
but waves in the profession?
Employee ownership schemes are based on a trust,
while most businesses are owned by individuals.
In this model, inventory is distributed among employees based on criteria such as tenure or salary,
among others.
Whether it’s an EBT plan in the UK or an employee stock ownership plan (ESOP) in the USA,
there are many options within stock sharing models to build a bridge between a company’s earnings and its employees.
Zaha Hadid Architects Announces Transfer of Employee Ownership
Some have even called it the “job-hopping generation”,
yet the model set by EBTs and ESOPs, often leads to increased employee retention and job security.
It also creates new possibilities for the transfer of wealth between generations,
and for the company’s point of view, this facilitates the building of experience.
