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Employee voice at board level: Responses to the revised UK Corporate Governance Code and the prospects for workplace democracy

Author

Listed:
  • Chris Rees

    (Royal Holloway, University of London, UK)

  • Patrick Briône

    (House of Commons Library, UK)

Abstract

This article presents empirical findings on listed company responses to provisions on board-level workforce engagement in the revised 2018 UK Corporate Governance Code, based on analysis of FTSE 350 company reports, survey data from 70 firms, and a series of 41 interviews with directors, senior managers and workforce representatives across 17 case study firms. The findings suggest that, despite some pockets of good practice, the current code-based regulatory framework is weak and ineffective. In light of this, the article considers current debates around strengthening worker voice in governance structures – including through appeals to corporate purpose, investor engagement, and wider changes in the legal and regulatory architecture. It concludes that any fundamental reform would require a recasting of the narrative around corporate purpose, based on a pluralist recognition of the dual nature of labour/capital investments in the firm and a renewed emphasis on the principle of workplace democracy.

Suggested Citation

  • Chris Rees & Patrick Briône, 2024. "Employee voice at board level: Responses to the revised UK Corporate Governance Code and the prospects for workplace democracy," Economic and Industrial Democracy, Department of Economic History, Uppsala University, Sweden, vol. 45(3), pages 816-834, August.
    • Handle: RePEc:sae:ecoind:v:45:y:2024:i:3:p:816-834
    DOI: 10.1177/0143831X231195692
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    References listed on IDEAS

    as
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    Full references (including those not matched with items on IDEAS)

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