An equitable and just union worker co-op should have three things: (1) Single share equity. All worker-owners receive equal stock in the company. Multiple class stock can lead to workers being given worse stock and being stuck with debt; (2) Workplace democracy. Workers are able to have a clear voice in how their workplace is run, and in determining working conditions and other decisions at the firm. Workers in cooperatives are able to express their voice by electing a board of directors and determining day-to-day operations. In a union co-op, workers also express their voice through the election of a union committee; (3) Collective bargaining agreement. A collective bargaining agreement is crucial to ensuring that workers’ rights to negotiate a fair wage and benefits are protected. Often, the negotiation of a CBA can be more collaborative in a union co-op than in a traditional firm, as both the management team and union committee are composed of worker-owners and the parties are more inclined to be aligned.
Glossary
Union Worker Co-op
Definition
A unionized worker co-op is a business governed and owned by its workers with the distinctive features that it uses the collective bargaining process to determine pay, benefits, etc. for its workers, and is connected to the larger union movement.