Malcolm Hurlston

1
Malcolm Hurlston

• Chairman and founder ESOP Centre
• The wages of capital

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ESOP Centre

• Partner of EESC in EFP 27
• Annual EU and global events
• Non profit

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Malcolm Hurlston

• Founded trade union bank
• Member of government committees
• Founder of charities

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EFP in the state sector

• Nordic model
• Continental model
• Anglo Saxon Celtic

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UK recent developments

• Big Society
• Royal Mail sell off
• MyCSP mutual

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MyCSP April 30

• 40 pc Partner enterprise
• 35 pc Government
• 25 pc Employee Trust

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MyCSP Aims

• Better service to pensioners
• Savings for government
• Sense of ownership for employees

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MyCSP Scope

• 1.5 million pensions
• 250 employees
• 7 (3) year government contract

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MyCSP Trust structure

• Employees elect Employee Partnership Council
• Council appoints two members of MyCSP Trustee
  Company Ltd
• MyCSP Ltd appoints one independent director of
  Trustee Company
• Employee Council represented on MyCSP board and
  exec management team.

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MyCSP 111 commitment

• 1 pc of profits to charities chosen by employees
• 1 pc of employees time for local good works
• 1 pc of headcount for apprenticeships and interns

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MyCSP The union view

• 95 of our members are against it and dont
  think it will work
• Based on a poll of members with a 55 response
  rate

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ESOP Centre historic study

• British Telecom now BT
• Demunicipalisation of buses
• Eircom

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BT

• Privatisation with EFP
• Free and preferential shares for employees
• Unions said Dont accept free shares
• EFP culture strong still
• 100 invested bought 370 worth of shares now
  worth 614 with dividends on top

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Buses

• 51 management 49 employees
• All now bought out
• Bonanza for managers many multimillionaires

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Eircom

• Substantial support from union
• General secretary and deputy chairman
• Substantial rewards for employees
• Now collapsing

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Royal Mail

• Structure undecided
• At least 10 for employees
• Seek longevity through trust
• Potentially offering shares to employees
• Unions are opposed to sell off

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Advantages of EFP

• Corporate glue
• Higher productivity
• Better service
• Wages of capital

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Observations

• Success depends on quantum and comms
• EFP essential in privatisations
• Mutuals are unproven
• EFP is renewable
• Study essential to track results

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Further papers from ESOP Centre

• Historic study
• A plan for unions and EFP
• Monthly newspad to keep up to date
• BT, Equiniti (MyCSPs partner) and Eircom are
  members of the Centre

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Hurlstons

• Manages ESOP Centre
• Runs educational programmes for managers and
  unions
• Lobbies for EFP the wages of capital
• mhurlston_at_hurlstons.com