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This paper offers a new perspective on the potential motivation for the adoption of employee ownership based on market power. Employee ownership may be linked to market power, either through contributing to firm growth that leads to market power or through industry leaders adopting employee ownership as part of rent sharing or a broader consolidation of market position. Both employee stock ownership plan (ESOP) coverage and product market concentration (PMC) have been increasing in the past two decades, providing a good opportunity to see if and how these are related.

The authors predict ESOP adoption and termination using multilevel regressions based on 2002–2012 firm- and industry-level data from the Census Bureau, Compustat and Form 5500 pension datasets.

The authors find that the top four firms in concentrated industries are more likely to adopt Employee Stock Ownership Plans (ESOPs), while having an ESOP does not predict entering the top four, apart from firm-level predictors. Tests indicate the first result does not reflect simple rent sharing with employees but instead appears to reflect an effort by firms to consolidate market power through the attraction and retention (or “locking in”) of industry talent. Other positive predictors of ESOPs include company size, being in a high-wage industry and having a defined benefit (DB) pension.

To better distinguish among hypotheses, it would be helpful to have firm-level data on managerial attitudes, strategies, networks and monopsony measures. Therefore, future research using such data would be highly useful and encouraged.

The paper includes implications for the potential usefulness of ESOPs in attracting and retaining talent and for the design of nuanced policy to encourage more broadly based sharing of economic rewards.

While prior research focuses on firm-level predictors of employee ownership, this study uses market concentration and other industry-level variables to predict the use of ESOPs. This study makes a unique contribution, broadening the current thinking on firm motives and environmental conditions predictive of firm ESOP adoption.

The construction sector is recognized for subjecting its workers to various psychological pressures and mental stressors. As a result, it is crucial to explore and discover effective strategies to support these workers in managing and enduring these demanding circumstances. Mental toughness is a concept that has been advocated to aid individuals in coping and adapting to pressures and challenges. Therefore, it is imperative to explore strategies critical to developing mental toughness among construction professionals. Thus, the purpose of this study is to identify critical strategies for the development of mental toughness among construction professionals.

A comprehensive literature review was conducted using Google Scholar, Scopus, ScienceDirect and PubMed databases to identify the strategies for the development of mental toughness. These identified strategies were used to develop a structured closed-ended questionnaire to aid in data collection. Of the 317 questionnaires distributed, 207 were collected and used for data analysis. The data were analysed using mean score ranking and one sample t-test.

The study highlighted 12 critical strategies for the development of mental toughness among construction professionals. These include recognizing and rewarding achievements, taking time for self-care, organizing mental training programs, using positive self-talk, embracing a growth mindset, providing social support/developing a strong support network, creating a challenging training environment, engaging in regular physical exercise, fostering a mastery motivational climate, setting clear but challenging goals, practicing mental imagery and practicing reflection on setbacks and failures. The analysis results indicated that all of the strategies, except one (which involves practicing reflection on setbacks and failures), displayed significance. By incorporating these strategies, construction firms and the industry as a whole can empower their workforce to cope and/or overcome the various demands and stressors that work and life places on them.

The study highlights the significance of recognizing and rewarding achievements, fostering a growth mindset and implementing mental training programs to cultivate mental toughness among construction professionals. Moreover, promoting self-care practices and offering social support are essential strategies for enhancing mental resilience in the construction industry. By adopting these evidence-based approaches, construction organizations can create a mentally tough workforce capable of handling the challenges and demands of the industry effectively.

This study contributes significantly to the general body of knowledge in mental health management among employees in the construction industry. It does set the pace for the development of the general well-being of construction professionals in the achievement of mental toughness goals.