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Employee Ownership and Perceptions of Work

The Effect of an Employee Stock Ownership Plan

University of Virginia

STEVEN L. NOCK

University of Virginia

DAVID J. TOSCANO

Williamson and Toscano Law Firm

A substantial number of firms in the United States have recently installed employee stock ownership plans (ESOPs). Little is known, however, about how such arrangements affect employees' attitudes about their jobs and companies. To address this issue, a small company was studied before and after the introduction of an ESOP. Employees' commitment to the organization and job satisfaction were higher after ESOP implementation, while perceived worker influence levels did not change. The findings suggest the possibility that ownership changes employees' evaluations of their jobs and companies without changing employees' influence over them. Furthermore, the research indicates that the simple presence of an ESOP has an effect on attitudes apart from whether employees are aware of the amount of stock allocated to their ESOP accounts.

Work and Occupations, Vol. 16, No. 1, 26-42 (1989)
DOI: 10.1177/0730888489016001002


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