On Thursday October 1st, the Spanish Parliament passed a new law regulating Sociedades laborales, a type of enterprises owned by their workers in Spain, making sure it is adapted to today’s economy and replacing a law that hadn’t been changed since 1997. The modernization of the former law is a big step for Sociedades laborales ; it clarifies the requisites needed to build a Sociedad laboral, facilitates the incorporation of workers as members, simplifies the administrative procedures and incorporates the principles of sound governance, according to CONFESAL, the Entrepreneurial Confederation of Workers-Owned Enterprises.
19 October 2015
First of all the law provides more participation and protection of the labor member workers. It gives them a greater power of participation in the decision making process, and facilitates the operation to become a member. Moreover, it will be now easier for workers with permanent contracts to acquire shares and participating interests.
Second of all the procedures will be simplified, reduced, and the hiring process of workers with indefinite contract that aren’t members will be facilitated. This is also a mean of fostering employment.
Additionally, an important new addition to this reformed law is the mention of the concept of “participatory societies” for the workers; it is a premiere in the Spanish law .These types of societies will have to follow certain requisites explained in the law. Workers in Sociedades laborales will have to participate in the capital and results of the enterprise. Workers will also have to be granted great participation in the voting rights and decisions making process within the enterprise. Finally, those enterprises will need to adopt a strategy that fosters the access of workers to the status of members.
Lastly, the law expresses the need for the administrations of the Sociedades laborales to act under the principles of diligence, loyalty, accountability and transparency. Moreover, they must foster quality and stable employment and work towards the integration of worker members, and provide equal opportunities for all.
The president of CECOP member CONFESAL, Ruperto Iglesias, who was present during the debate in Parliament, has noted the satisfaction of the sector upon being able to count on a normative framework that will foster the creation of jobs and enterprises.
The law will come into effect on November 13th, 2015.