BP > AUCHAN & Employee shareholding
Employee shareholding at the core of AUCHAN’s expansion for more than 30 years.
Group AUCHAN has been pursuing a policy of knowledge sharing (via employee training and information), power sharing (by instilling employee responsibility, right to personal initiatives, internal promotions) and capital sharing since 1961, when it opened its first store, by :
- Sharing the quarterly results of the stores, via the profit sharing agreement,
- Sharing the annual profits of the company, via mandatory profit sharing
- Sharing capital gains via employee shareholding.
- Employees: to enjoy a complete and balanced approach between remuneration and savings, the opportunity to build up a useful capital, a very special role -that of a shareholder- and an incentive for social progress.
- Company: to have an asset to expand, a guarantee for independence, a driving force of motivation, a social dialogue tool, an image of a company different from others and attractive.
In 1977, Gérard Mulliez decided that employees would be offered the opportunity to participate in the capital scheme. Valauchan mutual fund (FCP) was created on 2nd December that year. The share was then worth 2 Euros.
Employee shareholding is implemented in all countries in which it is possible, i.e. 11 countries in late 2009. The principles of equity, sharing and motivation that made it possible to implement it in France 34 years ago are still intangible.
The implementation of shareholding in China marks a further step:
- launch of a profit sharing agreement in 2003,
- launch of shareholding in 2006,
It was launched in a country in which no profit sharing agreement or mandatory profit sharing were implemented and has made it possible for 4,200 employees from 15 hypermarkets in China to become shareholders.
BP spotted by World Froum Lille in 2010
Factor(s) keys to success:
>Huge commitment of rulers in implementing such a scheme.
>Employees’ awareness at shareholding stakes.
Find out other best practices on the World Forum Lille's website: http://www.reseau-alliances.org/en/bonnes-pratiques