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Put workers on company boards - TUC

Unions have pressed home their call for workers to sit on company boards, saying the move would help firms recover from the economic crisis.

The TUC published two reports it said backed its argument that the UK system of relying solely on shareholders to hold a company to account had not delivered economic success or social justice.

Executive pay would be set at more reasonable levels if there was a worker representative on a company board, said the union organisation.

TUC general secretary Frances O'Grady said: "Achieving a true worker voice across Britain's workplaces is at the heart of the TUC's new campaign plan. Seats for the workforce on company boards would help inject a much-needed dose of reality into boardrooms and put the brakes on the multimillion pay and bonus packages which are fast becoming the norm in corporate Britain.

"The move would also help put firms on a clear trajectory out of the economic difficulties many UK companies are currently facing and assist boards to focus on the strategies and investments needed for long-term company success.

"The European experience shows that involving workers in management structures is not something for UK firms to fear. Instead, it's a concept companies should be embracing as the clamour for a more sensible, strategic approach to industrial democracy becomes ever popular."

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