Labour: no longer the fool in the market

In 2014, we are seeing the strongest secular movement towards entrepreneurship perhaps in all history. A recent study conducted by Deloitte showed 70 percent of millennials want to start their own business.

In 2014, we are seeing the strongest secular movement towards entrepreneurship perhaps in all history. A recent study conducted by Deloitte showed 70 percent of millennials want to start their own business.


While many individual businesses will inevitably fail, what is enduring in a transformative way, is people's desire to have equity ownership in the work they produce. That includes owning stock or stock options in a company you work for, even if you are not the founder of that company.


Throughout the Industrial era, most people went off to some kind of factory, and worked for an owner class who owned all the equity in the business, who paid the workers with a check. The vast majority of people still work this way today.


But as the Digital era hits stride, we are seeing a cultural shift, driven by the global Tech startup scene, where a core part of the operating model is to grant stock options to all company employees. The tradition is strongest in Silicon Valley. In Europe, it is prevalent but not yet fully widespread.  Europeans just cling to that owner class mentality a bit more, and they'll keep losing until they change.


Millennial workers are no longer willing to watch the lasting value of their work - equity value - flow to someone else. They want their fair share.


Labour is no longer the fool in the market.


As equity becomes a more important part of rewards, Craft is committed to helping our members understand the value and the mechanics of equity as part of their compensation at work. This includes easy explainers on how different types of stock and stock options work, what the tax implications are in different countries, what size grants are fair and normal for different roles and levels, and how one should think about equity over the course of one's career.

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