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PUT PEOPLE FIRST IN AN EOT FUTURE
More than 2,200 UK businesses have already gone down the route of being Employee Owned, generating more than 360,000 employee owners.
Brabners, Beever and Struthers and Lancashire Business View hosted a special event, ‘Post Employee Ownership Trust (EOT) – What’s the story?’ and it offered first-hand and expert insights into the model for organisations trying to future- proof their business and legacy.
“The Employee Owned Trust (EOT) sector is growing rapidly,” says Lesley Robinson, membership community manager at the Employee Ownership Association.
That growth is being driven by business owners looking for succession solutions that protect company culture and provide long- term value to employees.
Lesley added: “EOT is a sustainable legacy for your business, your culture, and your people – current and future.”
While it was once dominated by professional services, the EOT landscape is diversifying. “We’re seeing strong growth across construction, manufacturing, finance and
insurance, and even retail sectors,” Lesley says.
But the model is proving more than just feel-good too.
“EOT businesses are 25 per cent more likely to have seen profit growth in the past five years,” she said.
“They’re also 50 per cent more likely to
invest in research and development and innovation, and they invest 12 per cent more in skills.
“The opportunity ‘to have a say’ offers employees more secure and sustainable livelihoods with higher basic wages and the chance to share.
“With higher satisfaction, they remain engaged in the shared values and goals that help contribute to success.”
Mairead Platt, senior associate at Brabners, which has offices in Lancashire, Leeds, Manchester and Liverpool, says EOT
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businesses have become a more mainstream conversation with owners in recent years. She added: “There’s been less need for an educational piece. Owners are coming to us now, rather than us having to reach out.
“For those that want to look after their employees and give back, it’s usually considered a win-win.”
Steven Hadlow, partner at Brabners, has seen similar trends.
He says: “Recruitment is a very popular industry for us. We’ve seen lots of recruitment firms doing it, because it gives employees an incentive in a very sales focused business.”
FLYING THE FLAG FOR EOT
The event was a chance to hear success stories from the EOT sector.
Anthony Richardson, is a non-executive director at Raised Floor Solutions Group, based in Skelmersdale.
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