Hevrat HaOvdim was established pursuant to a resolution of the second Founders' Convention of the Histadrut in 1923, with the intention of consolidating the Histadrut's holdings and assets within a single organizational entity.

The Histadrut's 11th convention, held in 1969, decreed that Hevrat HaOvdim would have two purposes – advancement of national and social goals as well as advancement of labourers' welfare, their connection to the economy, increasing their feeling of partnership with work-places and upgrading their professional skills.

Today, Hevrat HaOvdim's main activity is managing its holdings in real estate and in corporations. Hevrat HaOvdim appoints the members of the boards of directors of all the corporations under its control, in coordination with the Histadrut.

Hevrat HaOvdim's Chairman is the Chairman of the Histadrut, Mr. Avi Nisankoren.
Hevrat HaOvdim's General Manager is Mr. Dudi Gil.

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