The Relative position of employees in the corporate governance context: An international comparison

Abstract

This article examines the situation of employees within the existing and emerging corporate governance paradigms in five countries, namely Australia, the United Kingdom, the United States, Germany and Japan. This article will briefly critique the key features of the systems of the five countries and concludes that, as with other critical governance issues, the issue of employee involvement is evolving as national systems search for the elusive concept of "best practice". This article will suggest in Australia's case, that its lack of engagement with employees as part of its corporate governance arrangement is out of alignment with other systems. This gap provides scope for the improvement and enriching of Australia's provision in this area. The article will conclude by suggesting how the Australian corporate governance arrangement in the area of employee provision may be better shaped to meet the needs of contemporary commerce and society.