Beyond wages: It's time for a true fair share. This section explores the fundamental principles of economic justice, and how to ensure that workers receive the compensation they deserve, moving beyond basic salaries and focusing on an equitable distribution of the profits generated by our collective effort.
The modern workplace often resembles a top-down hierarchy where the voices of those who do the actual work are frequently marginalized. Shareholders, while important stakeholders, often hold the ultimate decision-making power, sometimes leading to choices that prioritize short-term profit over the long-term well-being of the workforce and the community. The closure of profitable factories to offshore labor is a stark example of this imbalance.
We argue for a system where employees are not mere cogs in the machine but active participants in shaping their workplace's future. This can be achieved by granting them a significant voice in the company's General Assembly, the most important decision making body.
The General Assembly must include both shareholders (representing capital) and workers (representing labor). This ensures that diverse perspectives are considered when making decisions.
Voting rights in the General Assembly should be allocated based on the contribution of each stakeholder, as a kind of "value-weighted voting." This approach is rooted in the idea of "fair share", where both shareholders and employees have a say, and that say is proportional to their value contribution:
Workers should be able to organize and vote collectively, meaning that they are represented by worker unions, or "delegations", that represent them and defend their shared interests. This empowers workers to counterbalance the influence of large shareholders and fosters solidarity and collaboration.
All agenda items, meeting minutes, and decision results of the General Assembly should be transparent and readily available to all employees and shareholders. This ensures that every stakeholder can be fully informed and participate actively in the discussions.
Workers should be granted access to the same information as the shareholders, including the company's financials, strategic plans, and other relevant data. This level playing field ensures informed participation and equal footing in discussions.
There must be robust protections in place to prevent any kind of retaliation against workers who exercise their right to vote, or criticize or otherwise engage in the democratic process.
All stakeholders should have equal rights to be heard and to voice concerns during GA meetings. There should be an emphasis on finding consensus and making decisions based on reason and sound logic, not on hierarchy or special privileges.
The General Assembly should be composed of three "delegations":
Each Delegation has a clear and transparent procedure:
The General Assembly should convene at least annually, if not more frequently, to make decisions on strategy, policy, and important matters.
All members should be allowed to vote and participate in the General Assembly. This may involve simple voice votes (for resolutions and low-impact decisions) or the use of voting machines (for elections, high-impact decisions).
Conflicting Interests: While conflicts are inevitable, the key is to establish a forum where differing viewpoints can be discussed openly and constructively, aiming for consensus and win-win outcomes.
Lack of Expertise: Workers may not have the same financial expertise as shareholders, but this can be addressed through education, and by inviting outside experts to the GA to help all stakeholders make the most informed decisions.
Influence of Management: Managers can easily influence workers, and, if allowed to vote in two different delegations, this will give them an unfair advantage in the GA. To remedy this, managers must belong to one delegation only (their own Management delegation). The management delegation can also be removed entirely, in which case managers can vote with the workers, since, like workers, they are also paid a base salary plus a share of the profits.
Efficiency: Some might argue that including workers will slow down the decision-making process, but the benefit of bringing multiple perspectives will likely lead to more robust, durable, and better decisions.
Implementation Difficulty: Implementing these changes in established companies may present some challenges. A phased implementation is recommendable, starting with smaller firms, or even with new start-ups to demonstrate the real benefits of a system where all workers are empowered to vote at the General Assembly.
The time for top-down, authoritarian management is over. By sharing responsibility and giving workers a meaningful voice at the General Assembly, we are not just making workplaces more democratic. We are creating a more just and sustainable economy. It is a system where profits are not just a source of private accumulation, but a means to provide for all the workers. This is a fundamental shift that aligns our economic systems with the values of true democracy, and it's a critical step toward a more equitable society.