Title Izazovi implementacije plana organiziranog radničkog dioničarstva u hrvatskim trgovačkim društvima Title (english) Challenges of implementing an employee share ownership plan in Croatian companies Author Ana Bačić Gregurić Mentor Darko Tipurić (mentor)Committee member Domagoj Hruška (predsjednik povjerenstva)Committee member Darko Tipurić (član povjerenstva)Committee member Boris Tušek (član povjerenstva)Granter University of Zagreb Defense date and country 2023-03-14, Croatia Scientific / art field, SOCIAL SCIENCES Abstract Ovaj rad ukazuje na značaj, ali i izazove implementacije plana organiziranog radničkog dioničarstva (eng. Employee share ownership plan, ESOP) u hrvatskim trgovačkim društvima. To prvenstveno kroz empirijsko istraživanje izazova implementacije plana organiziranog radničkog dioničarstva promatranih iz perspektive menadžmenta, kao i radnika koji sudjeluju u takvom planu, na primjeru jednog hrvatskog trgovačkog društva. Kao kontekst navedenog cilja rada, objašnjeno je što je to organizirano radničko dioničarstvo, prikazani su njegovi oblici u zemljama ključnim za njegov razvoj, čimbenici koji utječu na njegovu implementaciju, kao i relevantna istraživanja o ovoj temi. Poseban osvrt je dan na zajedničku europsku politiku u poticanju i harmonizaciji radničkog dioničarstva, kao i na pravnu i poreznu regulativu u Republici Hrvatskoj. Nalazi empirijskog istraživanja ukazuju da su temeljni razlozi i ratio uvođenja ESOP-a nagrađivanje i zadržavanje kvalitetnih radnika u trgovačkom društvu te poticaj radnicima da rade bolje i više. Kao temeljni izazovi od strane menadžmenta prepoznati su pravni i porezni aspekt te pitanje koliko će ESOP program obuhvatiti radnika trgovačkog društva. ESOP, prema mišljenju menadžmenta, ima najveći utjecaj na motivaciju radnika te organizacijsku kulturu, dok najmanje utječe na povećanje produktivnosti trgovačkog društva i na veću uključenost radnika u proces odlučivanja. Iz perspektive radnika, najveće prednosti ESOP-a su povoljniji porezni tretman na isplatu bonusa u dionicama od isplate bonusa u novcu i mogućnost zarade prodajom dionica trgovačkog društva na tržištu kapitala, dok kao najmanju prednost ispitanici ocjenjuju mogućnost glasanja o odlukama bitnim za trgovačko društvo, smatrajući da ESOP na to nije utjecao. Glede učinaka ESOP-a, isti najviše utječe na odluku sudionika da ostanu raditi u trgovačkom društvu, da se više identificiraju s trgovačkim društvom i njegovom korporativnom kulturom te na njihovo zadovoljstvo na poslu. Zaključno proizlazi da nalazi u ovom istraživanju potvrđuju empirijska istraživanja koja su ustanovila da ESOP doprinosi identificiranju radnika s trgovačkim društvom za koje rade, da pozitivno utječe na njihovu motivaciju i zalaganje te na odluku da ostanu raditi u istom trgovačkom društvu. Pozitivan utjecaj ESOP-a je empirijski potvrđen kada su u pitanju i poslovni rezultati trgovačkog društva, dok je taj utjecaj ipak manji kada promatramo povećanje produktivnosti trgovačkog društva. Kao glavni nedostatak analiziranog modela ESOP-a, identificiran je manjak uključenosti radnika u proces donošenja odluka koji nije implementiran paralelno s ESOP-om, a koji bi dodatno osnažio navedene pozitivne utjecaje ESOP-a.
Abstract (english) This paper points out the importance, but also the challenges of the implementation of employee share ownership plan (ESOP) in Croatian companies. This primarily through empirical research of the challenges of implementing an employee share ownership plan observed from the perspective of management, as well as employees who participate in such a plan, on the example of the Croatian company. As a context of the stated aim of the paper, it is explained what employee share ownership plan is, its models in countries key to its development, factors influencing its implementation, as well as relevant research regarding ESOP are presented. A special review is given to the European Union policy in encouraging and harmonizing employee share ownership, as well as to the legal and tax regulations in the Republic of Croatia. The findings of the empirical research indicate that the main reasons and ratio for the implementing of ESOP are the rewarding and retention of good employees in the company as well as the incentive for employees to work more and better. As key challenges by the management are recognized the legal and tax aspects and the question of how many employees will be covered by the ESOP. According to the management, ESOP has the greatest impact on the employee motivation and organizational culture, while it has the least impact on increasing the company's productivity and on the higher employee involvement in the company's decision-making process. From the employee perspective, the greatest advantages of ESOP are the more favourable tax treatment of bonus payments in shares than bonus payments in cash and the possibility of earning by selling company shares on the capital market, while respondents as the least advantage of ESOP evaluate the possibility of voting for decisions important for the company, considering that ESOP had no influence on it. Regarding the effects of the ESOP, it has the biggest influence on the participants' decision to stay working for the current company, to identify more with the company and its corporate culture and their satisfaction at work. In conclusion, the findings of this research contribute to those empirical studies proving that ESOP enhances the employee identification with the company they work for, that positively affects their motivation and commitment, as well as the decision to stay with the same company. The positive influence of the ESOP has been empirically confirmed in relation to the company's business results, while this influence is smaller on the increase in the company's productivity. As the main issue of the analysed ESOP model, this paper identifies the lack of employee involvement in the decision-making process, which was not implemented simultaneously with the ESOP, while it would strengthen the stated positive effects of the ESOP even more.
Keywords
plan organiziranog radničkog dioničarstva
ESOP
financijska participacija radnika
Keywords (english)
ESOP
employee share ownership plan
employee financial participation
Language croatian URN:NBN urn:nbn:hr:148:503494 Study programme Title: Business Administration- MBA Type of resource Text File origin Born digital Access conditions Access restricted to authenticated users Terms of use Created on 2023-04-01 19:14:03
