What is Workplace Democracy ?
‘Workplace Democracy’ refers to the practice of applying demotractic principles to the workplace. Workplace democracy might be implemented in various kinds of ways from direct approaches such as voting, public debates, etc. being applied throughout the company to implementing it to specific departments.
A common example of workplace democracy is employee shares ownership, where the employees receive an equity share in the company and hence, have a stake in the company’s success.
The major advantage of workplace democracy is that it becomes easier to attract good talent while also boosting employee engagement and productivity. Similarly, implementing a democratic way of decision making leads to innovative, collaborative ideas which is welcome in any kind of organization.