Employee voice at board level: Responses to the revised UK Corporate Governance Code and the prospects for workplace democracy
Economic and Industrial Democracy
2023
Early view
1-19
board level employee representation ; corporate governance ; workers participation ; company law ; labour relations
Workers participation and European works councils
https://doi.org/10.1177/0143831X231195692
English
Bibliogr.
"This article presents empirical findings on listed company responses to provisions on boardlevel workforce engagement in the revised 2018 UK Corporate Governance Code, based on
analysis of FTSE 350 company reports, survey data from 70 firms, and a series of 41 interviews
with directors, senior managers and workforce representatives across 17 case study firms. The
findings suggest that, despite some pockets of good practice, the current code-based regulatory
framework is weak and ineffective. In light of this, the article considers current debates around
strengthening worker voice in governance structures – including through appeals to corporate
purpose, investor engagement, and wider changes in the legal and regulatory architecture. It
concludes that any fundamental reform would require a recasting of the narrative around corporate
purpose, based on a pluralist recognition of the dual nature of labour/capital investments in the
firm and a renewed emphasis on the principle of workplace democracy."
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The ETUI is co-funded by the European Union. Views and opinions expressed are however those of the author(s) only and do not necessarily reflect those of the European Union or the ETUI.