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class="mdc-o-content-body"><p><span class="BlogEntryContent_mck-c-blog-entry-content__display-date__vCR9M"><time dateTime="2022-04-05T00:00:00Z">April 5, 2022</time></span><span>Ownership Works, a new nonprofit dedicated to implementing broad-based employee ownership programs across the corporate world to benefit working families, has launched today. McKinsey joins more than 60 organizations across the private, public, and social sectors as a founding partner of the new initiative.</span></p> <p>“We believe our support of Ownership Works is one way that McKinsey can help create sustainable and inclusive growth,” says McKinsey senior partner <a href="https://www.mckinsey.com/our-people/aurobind-satpathy">Aurobind Satpathy</a>, who helps lead the relationship. “Their approach is a powerful way to drive equitable wealth creation, while helping companies attract and retain the people they need to spur outstanding business performance and growth.”</p> <p><a href="https://ownershipworks.org/">Ownership Works</a> will work to raise awareness and interest in shared-ownership programs and furnish organizations with the tools they need to implement them. According to the nonprofit, the initiative could help millions of lower-income workers and people of color, who have for generations been largely excluded from a range of wealth-building opportunities. By 2030, for example, Ownership Works aims to have generated at least $20 billion of wealth for working families. </p> <p>“This movement is about working in concert to create a future of work where employers and employees can win together,” says <a href="https://www.linkedin.com/in/anna-lisa-miller-7ab97246/">Anna-Lisa Miller</a>, executive director of Ownership Works. “We believe broad-based <a href="/capabilities/strategy-and-corporate-finance/our-insights/the-strategy-and-corporate-finance-blog/leadership-rundown-opportunity-through-ownership-with-pete-stavros">employee ownership</a> should be an important pillar of stakeholder capitalism and of an inclusive, equitable, and resilient economy.” </p> <p>Our research has laid out the massive opportunity for driving <a href="https://www.mckinsey.com/featured-insights/sustainable-inclusive-growth/our-future-lives-and-livelihoods-sustainable-and-inclusive-and-growing">inclusive growth</a>. For instance, the median Black household today has only about one-eighth of the wealth held by the median White household. <a href="https://www.mckinsey.com/featured-insights/diversity-and-inclusion/the-economic-state-of-black-america-what-is-and-what-could-be">In fact</a>, the actual dollar amounts found in Federal Reserve data are striking: while the median White household has amassed $188,000, the median Black family has about $24,000. If that gap were closed, <a href="https://www.mckinsey.com/about-us/new-at-mckinsey-blog/what-will-it-take-to-build-more-black-owned-businesses">our research has found</a>, as much as $1.5 trillion in economic output could be unleashed. </p> <p>Ownership Works will advance its mission through several key components. It will work to structure and implement broad-based ownership programs offered at no cost to all employees. It will also work to help organizations create cultures of shared ownership, increase employees’ financial literacy and access to cost-effective financial services, and share data and insights on the impact of shared ownership on employee wellbeing and corporate performance. </p> <p>McKinsey is supporting Ownership Works with expertise and a project team on a pro bono basis, building core infrastructure that will help organizations implement shared ownership programs. “By establishing a standardized and modular step-by-step process with supporting tools for each step, Ownership Works will be able to scale up its capacity to bring on board companies who are excited to join the shared ownership movement,” says McKinsey partner <a href="https://www.linkedin.com/in/brian-loh-066237/">Brian Loh,</a> who is helping to lead the effort.</p> <div data-module-category="" class="PullQuote_mck-c-pullquote__DbaQ5 mck-o-md-center"><blockquote data-component="mdc-c-blockquote" class="PullQuote_mck-c-blockquote__6n21p mdc-c-blockquote mdc-c-blockquote--is-quotes___TozKo_2734c4f"><p>This movement is about working in concert to create a future of work where employers and employees can win together.</p><cite class="mdc-c-blockquote__cite-container"><div class="mdc-c-blockquote__author-name___u4L7-_2734c4f">Anna-Lisa Miller, Ownership Works executive director</div></cite></blockquote></div> <p>Elsewhere, the organization’s founding partners will contribute in a variety of ways. Financial services firms and pension funds have committed to elevate shared ownership as an ESG strategy; public companies with employee ownership will share expertise; and investment firms have committed to create replicable models for shared ownership. </p> <p>“Ownership Works is incredibly grateful for McKinsey’s investment in our shared vision,” says Anna-Lisa. “Through a significant contribution of expertise and resources, McKinsey is helping us stand up an employee ownership advisory practice that will position companies to not only share wealth with lower-income and diverse employees but also improve workplace culture and employee engagement. We’re thrilled that McKinsey has joined the shared ownership movement to reimagine equity and build wealth for all.”</p></div></div><aside class="mdc-u-grid-col-lg-start-11 mdc-u-grid-col-lg-span-2 BlogEntryContent_mck-c-blog-entry-content__side-bar__YsMpJ"><section class="RelatedBlogPosts_mck-c-related-blog-posts__GnKmg"><h3 data-component="mdc-c-heading" class="mdc-c-heading___0fM1W_2734c4f mdc-c-heading--title___5qyOB_2734c4f mdc-c-heading--border___K8dj3_2734c4f mdc-u-ts-5">related</h3><div data-component="mdc-c-module-wrapper" data-module-theme="light" data-module-background="white" data-module-category="" class="BlogItem_mck-c-blog-item__A6TBP BlogItem_mck-c-blog-item--transparent-bg__UXfdT mck-u-animation-slide-up"><a data-component="mdc-c-link" href="/about-us/new-at-mckinsey-blog/announcing-our-support-of-the-black-economic-development-fund" class="mdc-c-link___lBbY1_2734c4f"><picture data-component="mdc-c-picture" class="BlogItem_mck-c-blog-item__picture__8xtXH"><style>.picture-mckin-0 { aspect-ratio: 8/5 }</style><img alt="McKinsey commits $15 million to support Black-owned businesses and help fuel economic development" class="picture-mckin-0" src="/~/media/mckinsey/about%20us/mckinsey%20blog/announcing%20our%20support%20of%20the%20black%20economic%20development%20fund/bedf-hero-small-1182268296-1536x864.jpg?cq=50&mw=767&car=8:5&cpy=Center" loading="lazy"/></picture></a><div data-component="mdc-c-content-block" class="mdc-c-content-block___7p6Lu_2734c4f BlogItem_mck-c-blog-item__text-container__WEEHk BlogItem_mck-c-blog-item__text-container--related__VjvZk"><h4 data-component="mdc-c-heading" class="mdc-c-heading___0fM1W_2734c4f mdc-u-ts-6"><a data-component="mdc-c-link" href="/about-us/new-at-mckinsey-blog/announcing-our-support-of-the-black-economic-development-fund" class="mdc-c-link-heading___Zggl8_2734c4f mdc-c-link___lBbY1_2734c4f">McKinsey commits $15 million to support Black-owned businesses and help fuel economic development</a></h4><div data-component="mdc-c-description" class="mdc-c-description___SrnQP_2734c4f">Our contribution will help the Black Economic Development Fund invest in Black-owned financial institutions, businesses, real estate developers, and anchor institutions across the US.</div></div></div><div data-component="mdc-c-module-wrapper" data-module-theme="light" data-module-background="white" data-module-category="" class="BlogItem_mck-c-blog-item__A6TBP BlogItem_mck-c-blog-item--transparent-bg__UXfdT mck-u-animation-slide-up"><a data-component="mdc-c-link" href="/about-us/new-at-mckinsey-blog/year-one-lessons-from-our-new-think-tank-focused-on-black-lives" class="mdc-c-link___lBbY1_2734c4f"><picture data-component="mdc-c-picture" class="BlogItem_mck-c-blog-item__picture__8xtXH"><style>.picture-year-0 { aspect-ratio: 8/5 }</style><img alt="Year one: Lessons from our new think tank focused on Black lives" class="picture-year-0" src="/~/media/mckinsey/about%20us/mckinsey%20blog/year%20one%20lessons%20from%20our%20new%20think%20tank/mibem-hero-small-5leaders-1536x864.jpg?cq=50&mw=767&car=8:5&cpy=Center" loading="lazy"/></picture></a><div data-component="mdc-c-content-block" class="mdc-c-content-block___7p6Lu_2734c4f BlogItem_mck-c-blog-item__text-container__WEEHk BlogItem_mck-c-blog-item__text-container--related__VjvZk"><h4 data-component="mdc-c-heading" class="mdc-c-heading___0fM1W_2734c4f mdc-u-ts-6"><a data-component="mdc-c-link" href="/about-us/new-at-mckinsey-blog/year-one-lessons-from-our-new-think-tank-focused-on-black-lives" class="mdc-c-link-heading___Zggl8_2734c4f mdc-c-link___lBbY1_2734c4f">Year one: Lessons from our new think tank focused on Black lives</a></h4><div data-component="mdc-c-description" class="mdc-c-description___SrnQP_2734c4f">One year since we launched the McKinsey Institute for Black Economic Mobility, leaders reflect on their research, impact to date, and what’s next.</div></div></div></section></aside></div></div></div><div data-component="mdc-c-module-wrapper" data-module-theme="light" data-module-background="lightest-grey" data-module-category="StandalonePromo" class="BlogPromo_mck-c-blog-promo__hSsYu BlogPromo_mck-c-blog-promo--full-width__pKXqL mck-u-animation-slide-up BlogEntryContent_mck-c-blog-entry-content__promobar___qKLu" data-layer-region="blog-one-click-module"><div data-component="mdc-c-content-block" class="mdc-c-content-block___7p6Lu_2734c4f mdc-u-grid-gutter-lg"><div class="mck-o-container"><div data-component="mdc-c-content-block" class="mdc-c-content-block___7p6Lu_2734c4f mdc-u-grid-gutter-lg mck-o-container--wrapped mck-o-container--mobile-spacing BlogPromo_mck-c-blog-promo__content__31yfC BlogPromo_mck-c-blog-promo__content--center__JdBp3"><div class="mdc-u-align-center"><h3 data-component="mdc-c-heading" class="mdc-c-heading___0fM1W_2734c4f mdc-u-ts-3">Never miss a story</h3><div data-component="mdc-c-description" class="mdc-c-description___SrnQP_2734c4f mdc-u-ts-7 BlogPromo_mck-c-blog-promo__description__bquDK">Stay updated about McKinsey news as it happens</div></div><div class="BlogPromo_mck-c-blog-promo__form-wrapper__bLL16"></div></div></div></div></div></div></div></div></main></div><script id="__NEXT_DATA__" type="application/json">{"props":{"pageProps":{"locale":"en","dictionary":{},"sitecoreContext":{"route":{"name":"McKinsey helps launch a new nonprofit aiming to create 20 billion of wealth for working families","displayName":"McKinsey helps launch a new nonprofit aiming to create 20 billion of wealth for working families","fields":null,"databaseName":"web","deviceId":"fe5d7fdf-89c0-4d99-9aa3-b5fbd009c9f3","itemId":"cb410eab-b1f5-40ff-8b41-c58b965a951b","itemLanguage":"en","itemVersion":1,"layoutId":"ae753eb4-a035-40b4-83bf-4b4438df6742","templateId":"d929136a-019a-4786-8072-3e3a60b2f31c","templateName":"Blog Entry","placeholders":{"jss-main":[{"uid":"e18e4703-f541-45d8-89c1-d5d8407f1708","componentName":"BlogEntry","dataSource":"","fields":{"data":{"blogEntry":{"title":{"jsonValue":{"value":"McKinsey helps launch a new nonprofit aiming to create $20 billion of wealth for working families"}},"sEOTitle":{"value":""},"description":{"jsonValue":{"value":"Ownership Works will seek to implement broad-based employee ownership programs across the corporate world."}},"sEODescription":{"value":""},"displayDate":{"jsonValue":{"value":"2022-04-05T00:00:00Z"}},"body":{"value":"\u003cp\u003e\u003cspan\u003eOwnership Works, a new nonprofit dedicated to implementing broad-based employee ownership programs across the corporate world to benefit working families, has launched today. McKinsey joins more than 60 organizations across the private, public, and social sectors as a founding partner of the new initiative.\u003c/span\u003e\u003c/p\u003e\n\u003cp\u003e\u0026ldquo;We believe our support of Ownership Works is one way that McKinsey can help create sustainable and inclusive growth,\u0026rdquo; says McKinsey senior partner \u003ca href=\"https://www.mckinsey.com/our-people/aurobind-satpathy\"\u003eAurobind Satpathy\u003c/a\u003e, who helps lead the relationship. \u0026ldquo;Their approach is a powerful way to drive equitable wealth creation, while helping companies attract and retain the people they need to spur outstanding business performance and growth.\u0026rdquo;\u003c/p\u003e\n\u003cp\u003e\u003ca href=\"https://ownershipworks.org/\"\u003eOwnership Works\u003c/a\u003e will work to raise awareness and interest in shared-ownership programs and furnish organizations with the tools they need to implement them. According to the nonprofit, the initiative could help millions of lower-income workers and people of color, who have for generations been largely excluded from a range of wealth-building opportunities. By 2030, for example, Ownership Works aims to have generated at least $20 billion of wealth for working families. \u003c/p\u003e\n\u003cp\u003e\u0026ldquo;This movement is about working in concert to create a future of work where employers and employees can win together,\u0026rdquo; says \u003ca href=\"https://www.linkedin.com/in/anna-lisa-miller-7ab97246/\"\u003eAnna-Lisa Miller\u003c/a\u003e, executive director of Ownership Works. \u0026ldquo;We believe broad-based \u003ca href=\"/capabilities/strategy-and-corporate-finance/our-insights/the-strategy-and-corporate-finance-blog/leadership-rundown-opportunity-through-ownership-with-pete-stavros\"\u003eemployee ownership\u003c/a\u003e\u0026nbsp;should be an important pillar of stakeholder capitalism and of an inclusive, equitable, and resilient economy.\u0026rdquo; \u003c/p\u003e\n\u003cp\u003eOur research has laid out the massive opportunity for driving \u003ca href=\"https://www.mckinsey.com/featured-insights/sustainable-inclusive-growth/our-future-lives-and-livelihoods-sustainable-and-inclusive-and-growing\"\u003einclusive growth\u003c/a\u003e. For instance, the median Black household today has only about one-eighth of the wealth held by the median White household. \u003ca href=\"https://www.mckinsey.com/featured-insights/diversity-and-inclusion/the-economic-state-of-black-america-what-is-and-what-could-be\"\u003eIn fact\u003c/a\u003e, the actual dollar amounts found in Federal Reserve data are striking: while the median White household has amassed $188,000, the median Black family has about $24,000. If that gap were closed, \u003ca href=\"https://www.mckinsey.com/about-us/new-at-mckinsey-blog/what-will-it-take-to-build-more-black-owned-businesses\"\u003eour research has found\u003c/a\u003e, as much as $1.5 trillion in economic output could be unleashed. \u003c/p\u003e\n\u003cp\u003eOwnership Works will advance its mission through several key components. It will work to structure and implement broad-based ownership programs offered at no cost to all employees. It will also work to help organizations create cultures of shared ownership, increase employees\u0026rsquo; financial literacy and access to cost-effective financial services, and share data and insights on the impact of shared ownership on employee wellbeing and corporate performance. \u003c/p\u003e\n\u003cp\u003eMcKinsey is supporting Ownership Works with expertise and a project team on a pro bono basis, building core infrastructure that will help organizations implement shared ownership programs. \u0026ldquo;By establishing a standardized and modular step-by-step process with supporting tools for each step, Ownership Works will be able to scale up its capacity to bring on board companies who are excited to join the shared ownership movement,\u0026rdquo;\u0026nbsp;says McKinsey partner \u003ca href=\"https://www.linkedin.com/in/brian-loh-066237/\"\u003eBrian Loh,\u003c/a\u003e who is helping to lead the effort.\u003c/p\u003e\n[[Pullquote 1]]\n\u003cp\u003eElsewhere, the organization\u0026rsquo;s founding partners will contribute in a variety of ways. Financial services firms and pension funds have committed to elevate shared ownership as an ESG strategy; public companies with employee ownership will share expertise; and investment firms have committed to create replicable models for shared ownership. \u003c/p\u003e\n\u003cp\u003e\u0026ldquo;Ownership Works is incredibly grateful for McKinsey\u0026rsquo;s investment in our shared vision,\u0026rdquo; says Anna-Lisa. \u0026ldquo;Through a significant contribution of expertise and resources, McKinsey is helping us stand up an employee ownership advisory practice that will position companies to not only share wealth with lower-income and diverse employees but also improve workplace culture and employee engagement. We\u0026rsquo;re thrilled that McKinsey has joined the shared ownership movement to reimagine equity and build wealth for all.\u0026rdquo;\u003c/p\u003e"},"hidePromoBar":{"boolValue":false},"hideDek":{"boolValue":true},"mobileReady":{"boolValue":true},"selectedModalSubscriptions":{"targetItems":[]},"hideFromSearchEngines":{"boolValue":false},"parent":{"id":"C91995569C2442E0B263E2BDE578903E","name":"New at McKinsey Blog","title":{"value":"New at McKinsey Blog"},"description":{"value":"A collection of stories about our people, our capabilities, our research, and the ever-changing face of our firm."},"url":{"path":"/about-us/new-at-mckinsey-blog"},"heroImage":{"alt":"","src":null,"description":null},"heroBackgroundColor":{"targetItem":{"displayName":"Dark Blue Gradient"}},"heroImageTopOffset":{"value":"100"},"horizontalCropPosition":{"targetItem":{"displayName":"Left"}},"heroImageRenderStyle":{"targetItem":{"displayName":"Full Height Hero"}}},"ancestors":[{"displayName":"McKinsey Blog","name":"New at McKinsey Blog","id":"{C9199556-9C24-42E0-B263-E2BDE578903E}","template":{"id":"{D47350B4-752D-4AEB-9F9E-0478AC2A95EB}"}},{"displayName":"About Us","name":"About Us","id":"{45E65F7E-6B6B-4878-9252-A33F066F365F}","template":{"id":"{85FF0530-7883-480F-9A4C-82123F72FFD8}"}},{"displayName":"Home","name":"Home","id":"{367E4041-0C4A-4A6D-99D7-7D83F5A73EA7}","template":{"id":"{85FF0530-7883-480F-9A4C-82123F72FFD8}"}},{"displayName":"McKinsey","name":"McKinsey","id":"{258857D0-50FA-4C3E-8C11-55EDFF84A992}","template":{"id":"{061CBA15-5474-4B91-8A06-17903B102B82}"}},{"displayName":"Content","name":"content","id":"{0DE95AE4-41AB-4D01-9EB0-67441B7C2450}","template":{"id":"{E3E2D58C-DF95-4230-ADC9-279924CECE84}"}},{"displayName":"sitecore","name":"sitecore","id":"{11111111-1111-1111-1111-111111111111}","template":{"id":"{C6576836-910C-4A3D-BA03-C277DBD3B827}"}}],"promoDetails":{"_1clickSubscription":{"targetItems":[{"title":{"value":"New at McKinsey blog"},"displayName":"New at McKinsey blog","alertCode":{"value":"N37"},"description":{"value":""}}]},"promoBarTitle":{"value":"Never miss a story"},"promoBarDescription":{"value":"Stay updated about McKinsey news as it happens"},"promoBarCallToActionLink":{"queryString":"","className":"btn","anchor":"","linkType":"internal","url":"/user-registration/manage-account/edit-subscriptions-mvc","text":"Subscribe","targetItem":{"name":"Edit Subscriptions MVC"}},"promoBarRenderStyle":{"targetItem":{"key":{"value":"Center"},"value":{"value":"Center"}}}},"authors":{"targetItems":[]},"blogEntryTags":{"targetItems":[{"name":"Inclusive Growth","blogTagTitle":{"value":"Inclusive Growth"}}]},"heroImage":{"alt":"A working man.","src":"/~/media/mckinsey/about us/mckinsey blog/mckinsey helps launch a new nonprofit aiming to create 20 billion of wealth for working families/ownershipworks-hero-small-1341969666-1536x864.jpg","description":""},"thumbnailImage":{"src":"/~/media/mckinsey/about us/mckinsey blog/mckinsey helps launch a new nonprofit aiming to create 20 billion of wealth for working families/ownershipworks-hero-small-1341969666-1536x864.jpg"},"showCaption":{"boolValue":false},"heroImageTopOffset":{"value":""},"horizontalCropPosition":{"targetItem":null},"heroBackgroundColor":{"targetItem":{"key":{"value":"Deep Blue"},"value":{"value":"deep-blue"}}},"heroImageRenderStyle":{"targetItem":null},"relatedPosts":{"targetItems":[{"template":{"id":"D929136A019A478680723E3A60B2F31C"},"url":{"path":"/about-us/new-at-mckinsey-blog/announcing-our-support-of-the-black-economic-development-fund"},"title":{"value":"McKinsey commits $15 million to support Black-owned businesses and help fuel economic development"},"description":{"value":"Our contribution will help the Black Economic Development Fund invest in Black-owned financial institutions, businesses, real estate developers, and anchor institutions across the US."},"displayDate":{"jsonValue":{"value":"2021-05-27T00:00:00Z"}},"image":{"src":"/~/media/mckinsey/about us/mckinsey blog/announcing our support of the black economic development fund/bedf-hero-small-1182268296-1536x864.jpg","alt":"A happy family"}},{"template":{"id":"D929136A019A478680723E3A60B2F31C"},"url":{"path":"/about-us/new-at-mckinsey-blog/year-one-lessons-from-our-new-think-tank-focused-on-black-lives"},"title":{"value":"Year one: Lessons from our new think tank focused on Black lives"},"description":{"value":"One year since we launched the McKinsey Institute for Black Economic Mobility, leaders reflect on their research, impact to date, and what\u0026rsquo;s next."},"displayDate":{"jsonValue":{"value":"2021-12-16T00:00:00Z"}},"image":{"src":"/~/media/mckinsey/about us/mckinsey blog/year one lessons from our new think tank/mibem-hero-small-5leaders-1536x864.jpg","alt":"Year one: Lessons from our new think tank focused on Black lives "}}]},"contentType":{"targetItem":{"displayName":"Blog post - 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