Uncommon
Worker cooperative
Cooperative that is owned and self-managed by its workers
Worker cooperative
A worker cooperative is a cooperative owned and self-managed by its workers. The meaning of this control varies by definition; it may mean a firm where every worker-owner participates in decision-making in a democratic manner, or it may refer to one in which management is elected by every worker-owner, each of whom has one vote. Worker cooperatives may also be referred to as labour-managed firms. Worker cooperatives appeared as part of the labour movement in reaction to capitalism and the Industrial Revolution. Such organisations began in the 18th century and developed further throughout the 19th century with groups such as the Rochdale Society of Equitable Pioneers, which established the Rochdale Principles to guide cooperative management. Compared with traditional investor-owned firms, worker cooperatives tend to have greater longevity, higher levels of trust, and higher job satisfaction. Productivity varies by location and sector, showing mixed outcomes. They tend to have more volatility...
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