Employees as shareholders
At Veidekke the employees' ownership constitutes a significant share of the company.
We believe that the value of a contracting enterprise is particularly dependent on the organization and the employees. This is why the employees' ownership involvement is an important and positive aspect in the development of the company. Even though it is difficult to document, we believe that Veidekke has employees that are unusually interested in how the company fares.
Goes back to the 1960s
Employee co-ownership in Veidekke goes all the way back to the 1960s, and at the beginning of the 1980s 40 leading employees held the majority of the shares. In 1984 co-ownership became part of Veidekkes long-term strategy and goals were set for significant employee co-ownership, which in turn led to Veidekke being listed on the stock exchange.
Following the introduction on the stock exchange, we have twice yearly offered our employees the chance to purchase shares in Veidekke. The major share offer takes place in the autumn and applies to all employees. A discount is offered and the shares have a lock-in period. In the spring the offer is for leading employees.
Currently 51.2% of the employees are shareholders in their own company and in total they hold 18.4% of the shares. This is not a homogeneous group, and there are more than 3,217 individual shareholders who are free to sell their shares to whoever they want once the lock-in period expires.
The share offering is voluntary and there is thus no obligation to purchase. However, our ambition in Veidekke is that leading employees are to own a significant proportion of shares in the company. By this we mean that it is desirable on the part of the company that individuals over time purchase shares that eventually constitute a significant shareholding. What is understood by significant will of course vary from person to person. In a decentralized organizations such as Veidekke there are many leading employees with responsibility for results and who take decisions that affect profitability and not least risk in projects. This is why we have a separate offer to leading employees in the spring.
Why co-ownership counts
At Veidekke we believe that co-ownership creates involvement, an increased understanding and a greater sense of employee involvement in the enterprise and individual projects. Along with employee involvement, skills development, the apprentice scheme, the Veidekke school and other measures, co-ownership is a central instrument for making a good corporate culture even better.
In May 2016 the latest share programme for leading employees was completed.
In November 2015 the latest share programme for all employees was completed.