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Considering Employee Ownership? These companies have recently turned their employees into owners

July 5th, 2019 Posted by Team 0 thoughts on “Considering Employee Ownership? These companies have recently turned their employees into owners”

Richer Sounds is the latest company to transfer ownership onto their employees! Founder, Julian Richer has decided to give his 500+ employees a 60% stake in the business following his 60th birthday. Each of the employees will pick up £1,000 for every year at the firm, giving an average payout of £8,000, placing the shares in an Employee Ownership Trust.

Due to having no children to hand over ownership to, Julian Richer found the need to transfer ownership to those he trusts. He quotes “I didn’t want to sell to a stranger who might have completely different aims and ambitions for the business. I’m hoping it will ensure the succession of the business”. It has been voiced that co-owned companies tend to be more successful, competitive, profitable and sustainable!

Compared to John Lewis, who are the largest employee-owned company in the UK. In the challenging world of retail, the Employee Ownership structure allows the company to plan for the long term. It has been said that an industrial democracy, where employees share knowledge, power and profit, was a better form of business. This has shaped the company culture and encouraged the happiness of all its members.

BT are also another company who are handing out shares to their employees. Since announcing cuts to its 100,000-strong workforce last year, there were concerns of stress and low morale among staff. Now, with the aim to increase motivation amongst staff, the shares will go to BT employees around the world.

To read more about these companies’ transition to Employee Ownership, click here https://www.bbc.co.uk/news/amp/business-48297641

Are you thinking about transferring ownership to your employees or Succession Planning? We can work with you to identify the best route for successful business transition. Get in touch to discuss more opportunity- contact@evokemanagement.co.uk

“Change before you have to.” – Jack Welsh, Former CEO of General Electric

September 7th, 2018 Posted by Confidence, Team 0 thoughts on ““Change before you have to.” – Jack Welsh, Former CEO of General Electric”

This famous quote will hit home to many business owners and managers.

We are living in the midst of a fourth industrial revolution and business continues to change and adapt to leverage new technology and ideas. Companies and business leader who are able to predict and efficiently embrace and exploit change will come out better than they were before.

The key message in this quote is that it is far better to seek out change then to have circumstances force you to change. A major part of creating positive change is having a conscious leader who is aware of the state of his business as well as the conditions in the surrounding markets.

Being a conscious leader means being an available leader, not only being open to different perspectives but actively seeking them out and applying them. These perspectives should come not only from in-house but also from outside sources with different goals and mindsets.

Learn more about being a conscious leader and creating positive change in your business rob@evokemanagement.co.uk

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