He was aware of the importance of co-determination
for the Group's success story.
Referred to as co-determination
, this policy -- which has been proposed in the US by Senator Elizabeth Warren -- is often touted as a way to give workers more power to demand better wages and benefits.
In relation to this planned reorganisation, the company will initiate a co-determination
This is best illustrated by the case of Germany where the system of collective bargaining was further reinforced by the Law on Co-Determination
, which requires companies with 2,000 or more workers to have in the company supervisory boards representatives of the workers, and for the smaller companies, to have 'work councils', or forums for sustained dialogue between management and the workers on various work and productivity issues.
KEMET announced the intention of closing its Granna, Sweden manufacturing facility by initiating co-determination
consultations with the local Swedish unions which start the legal consultation period under Swedish law.
(The term for such corporate-board splitting is co-determination
.) But Warren was on the ballot in a solidly Democratic state, while Baldwin was running in purple Wisconsin.
He told the German delegation that "the way your co-determination
system works where labor, government and business work together has been a window for us to look through and say there is something that we can learn." Ramaphosa added that "one of the challenges we're facing is a skills deficit, and there as well German can teach us a lot."
Complex governance structures in Germany, notably co-determination
between different stakeholders, including management and employee representatives, and potential political intervention due to companies' status as national champions, could lead to lengthier timeframes than for similar cases in the US.
People should not take "peaceful cohabitation, co-determination
and stable political conditions for granted," he warned.
The second feature of the German model is its "social market economy," best reflected in its unique system of industrial "co-determination
." Alone among the major advanced economies, Germany practices "stakeholder capitalism." All companies are required by law to have works councils.
Furthermore, a new definition of "employment" is discussed (in order to protect economically dependent persons such as crowd workers, solo self-employed workers) and a new definition of the unit represented by the works council (to ensure co-determination
rights in new decentralized structures).