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Giving workers a stake in their company can pay off in a remarkable way

Innovation: Scottish invention could be a vital weapon in fight to cut carbon emissions

By Colin Donald, Business Editor

A Scottish invention with the potential to revolutionize consumer energy conservation is set for further inroads into the mass market in 2009, according to energy and management consultant Accenture. The "smart meter", the brainchild of Scots telecoms engineer Eric Beattie, was originally conceived as using communications equipment to interact with prepayment meters to allow customers to top-up their meter remotely. But smart meters, currently undergoing consumer trials throughout the UK, are seen as a potentially revolutionary aid to carbon reduction, as they allow householders and businesses to monitor closely in real-time how much energy they are currently consuming and at what cost.

According to Accenture: "As the energy industry faces up to ever-deeper cuts in carbon emissions over the coming decades, the installation of smart meters in customers' homes is becoming increasingly important because of its potential to change consumers' behavior and reduce energy consumption. "At the same time, the parallel need to improve the security of supply is adding to the momentum behind smart metering as a tool to manage consumption and facilitate the deployment of local domestic generation devices such as wind turbines, solar cells. With these needs in mind, energy suppliers are piloting and implementing smart meters at an accelerating rate."

Adrian Clamp, head of Accenture's utilities, oil and gas, and chemicals division in Scotland said: "They are important because they change the way the consumer can access info to drive down spend. They get far more intelligence - something that clips on to the metering infrastructure - but typically also a display screen that shows how much they are using. "We see strong opportunities for smart meters in Scotland, with utility companies such as Scottish Power and Scottish and Southern Energy and for the Scottish government. "A focus on the demand side is the missing part of the energy debate in Scotland. The main opportunity for the government is that this technology makes it far easier for business and domestic users to monitor their consumption.

"Encouraging the roll-out of the technology, along with promoting the use of smart buildings by businesses is possibly the quickest and easiest way for the government to achieve its carbon reduction targets." Clamp said that there was potential for Scottish cities to follow the lead of Amsterdam, which in pursuit of its aim of becoming a "flagship green city" was encouraging the roll-out of smart meters alongside promoting smart buildings and changes in its transport policy. "There would be a lot to be gained by Glasgow or Aberdeen picking up that mantle, though this would require more investment and PFI financing, and we would like to encourage debate about how that could happen."

In Italy, around 24 million smart meters have already been installed, and France and the Nordic countries are also making "an announcement a month" on the continued roll-out. The UK government's own progress on smart metering was boosted by the energy bill which completed its path through parliament in November. The bill "allows the secretary of state to modify electricity and gas distribution and supply licenses to require the license holder to install, or facilitate the installation of, smart meters to different customer segments, including the domestic sector." The government is expected to make a further announcement early this year with details of the roll-out. Clamp said: The trials at the moment are proving that the technology works and looking at consumer attitudes. There is no point in rolling these out if people don't use them. "We are focusing on the issue of what information is it exactly that makes people use less electricity. "One of the next steps for the industry is to define the communication protocols so innovation can take place in Britain." The industry plans that the infrastructure for smart metering will be put in place in 2010, ready for a full-scale roll-out in 2011, completing by 2020.

Workers' Engagement: The Importance of Giving Employees a Stake in Their Company

By [Your Name], Business Editor

The concept of giving workers a stake in their company has gained significant attention in recent years due to its potential to boost productivity, employee engagement, and overall business performance. Offering employees a sense of ownership and allowing them to share in the success of the company can have remarkable benefits for both the organization and its workforce.

1. Increased Motivation and Loyalty

When employees have a stake in the company, they are more motivated to contribute their best efforts and go the extra mile. Knowing that they directly benefit from the company's success, they develop a stronger sense of loyalty and commitment. This can lead to higher levels of employee retention, reducing recruitment and training costs for the organization.

2. Improved Performance and Innovation

By giving employees a stake in the company, they become more invested in its success and are more likely to take ownership of their work. This sense of ownership can cultivate a culture of innovation and continuous improvement as employees actively seek ways to contribute to the company's growth and profitability.

3. Enhanced Collaboration and Teamwork

When employees have a stake in the company, they have a shared interest in its success. This shared interest promotes collaboration and teamwork among employees as they work together towards common goals. Employees are more likely to support and help each other, leading to a more cohesive and productive work environment.

4. Greater Employee Satisfaction

Employees who have a stake in the company are generally more satisfied with their jobs and the organization as a whole. They feel valued and recognized for their contributions, which boosts their overall job satisfaction and well-being. This can result in reduced absenteeism and higher levels of employee morale.

5. Financial Benefits for Employees

Providing employees with a stake in the company's success can also have significant financial benefits for them. As the company performs well, employees can receive dividends, profit sharing, or stock options, allowing them to directly benefit from the company's growth and profitability. This can provide a valuable source of additional income and long-term financial security.

6. Positive Impact on Company Culture

Integrating employee ownership into the company culture can create a positive and inclusive work environment. It fosters a sense of trust, transparency, and open communication between management and employees. This can lead to better employee morale, higher job satisfaction, and a stronger sense of belonging within the organization.

In conclusion, giving workers a stake in their company can have a remarkable impact on both the individual employees and the organization as a whole. By fostering a sense of ownership, companies can tap into the motivation, loyalty, and innovative potential of their workforce, ultimately driving business success and profitability.

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