Partner Article

Firms can now offer shares for employee rights

The Government’s ‘employee shareholder’ status is now in effect, allowing employees to waive rights in return for company shares.

Employees can access £2,000 of company shares by giving up their rights, such as the ability to claim unfair dismissal.

Anyone can apply for or accept an employee shareholder job, but no workers can be forced into the model.

Various employee rights can be exchanged in the deal, including the right to claim unfair dismissal; statutory redundancy pay; right to request flexible working except in the 2 week period after a return from parental leave; and the certain statutory rights to request time off to train.

The scheme has proved controversial since the Chancellor George Osborne first touted the idea last year.

This was posted in Bdaily's Members' News section by Tom Keighley .