@ inspireeo. how ownership works: an insight into how employees own the business
TRANSCRIPT
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@InspireEO
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@InspireEO
How ownership works: an insight into
how employees own the business
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Carole LeslieOwnership Associates UK
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@InspireEO
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Isabella MillerJohn Lewis Glasgow
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How our Partners own the business
Isabella MillerHead of Branch John Lewis Glasgow
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Principle 1
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Principle 1 of our Constitution states that 'The Partnership's ultimate purpose is the happiness of all its members, through their worthwhile and satisfying employment in a successful business. Because the Partnership is owned in trust for its members, they share the responsibilities of ownership as well as its rewards – profit, knowledge and power.'
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How our Partners’ Voice is heard
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• Democracy
• Journalism
• Partner Survey
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Democracy
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Journalism
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Partner Survey: Why is it important?
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• Partners can make their voice heard.
• Feedback to help shape the future of the business.
• Results from team to Partnership level.
• Partnership and divisional results are compared against the results of other organisations including major retailers.
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What happens to the responses?
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1. Partner completes
survey responses
online
2. Collate and analyse
responses
3. Survey reports
published at local,
department, divisional and Partnership
level
4. Engage Partners
through local team and
democracy meetings to
develop action plans
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Results this year
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• 81% rate the Partnership as a great place to work
• 87% have access to the information they want
• Job satisfaction is 71%
• 88% say the Partnership respects cultural differences
• 92% value the range of benefits available
• 74% have confidence in the Partnership’s leadership
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IT & systems
ResourcesLine management
Pay
We focussed on four themes in John Lewis
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@InspireEO
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Fred BowdenWoollard & Henry Ltd
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Inspire EO Presentation
Woollard and Henry Annual Turnover
2003/04
2004/05
2005/06
2006/07
2007/08
2008/09
2009/10
2010/11
2011/12
2012/13
2013/14
2014/15
0
1000
2000
3000
4000
5000
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7000£000
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Background
Established in 1873, Woollard and Henry were a very traditional engineering company, supplying bespoke equipment for the paper industry.At the time of the employee buyout in 2002, Woollard and Henry employed 22 people and had a turnover of £0.9 million. Scotland still had 20 paper mills left in operation.With the Paper Industry being in dramatic decline and unable to secure a buyer, the workforce and Customers were informed that the company would be closing.Assisted by BPL, the option of Employee Ownership was taken.
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Benefits Gained To-date
In the past five years, over one third of the UK’s paper mills have closed and only four Paper Mills remain operational in Scotland.Despite these difficult conditions, Woollard and Henry have increased turnover from £0.9million to £6.5 millionMoved from a loss making situation to generating a PBT of around 12% ( although less now with the downturn in Oil).We have been able to buy the 50% of shares from BPL, which are now held in a separate EBT. So 100% of the shareholding is in the hands of our Employees. Workforce has increased from 22 to 75.
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Traditional Business that’s changing
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People Aspects
Flat structureManagers are on the shop floor and accessible Weekly meetings with all the workforceDaily meetings with ManagersQuarterly review meetings with ManagersAnnual Strategy review
Work very hard to communicate with people and attempt to bring them with us.
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Benefits Gained To-dateThe company has changed significantly, which has been greatly assisted by the fact that we are Employee owned and can take a longer view.Our facility here in Aberdeen has been extended and we have invested in new CNC equipment.Opened a design and service centre in Germany and a new sales office in ManchesterNew Fabrication and Precision Machining facility have also been opened on in Turriff and Bytow (Poland)We have developed new products and secured patents for the Paper industry, whilst diversifying into the Energy sector. Resulting in only 20% of our turnover coming from the Traditional product offering.
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Strategy Achievements
People within the company understand the need to change and we have successfully developed new products for the Paper Industry.
Expanding Cylinder Moulds AccuSteams
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Strategy FutureFurther investment in our People, CNC machines and fabrication equipment.Maintain and grow our reputation as the preferred supplier of engineering solutions for the paper industry, taking advantage as the number of suppliers to this market declines.Develop our presence to preferred supplier status with key customers in the Energy Sector. Drive cost and productivity improvements throughout the business.Build upon our unique business model of Employee Ownership – staff commitment, loyalty and customer service.Projected target by 2019 is £10m from our sites in Scotland.
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@InspireEO
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Peta HaySaxton Bampfylde
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HOW OWNERSHIP WORKSAN INSIGHT INTO HOW EMPLOYEES OWN THE BUSINESS
By Peta HaySaxton Bampfylde
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Established 1986Global Executive Search &
Assessment firm
Chair / CEO / NED / C-suite
Appointments across private, public & non-
profit sectors, in-house assessment team
£10m turnover
Over 80 Partners
UK based (Edinburgh, London, Guildford) with 14
international Partners
ABOUT Saxton Bampfylde
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Our Clients
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OUR MISSION & VALUES“We exist to change the world
by changing leaders in interesting and important organisations. At the same time we aim to create an environment wherein all
members can grow to their fullest extent emotionally,
intellectually and spiritually.”
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Why we became EMPLOYEE-OWNED
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Employees as owners•Partners feel empowered to have
more say in the running of the firm
•Firm-wide Trustee election
•Regular financial updates shared
•All Partners receive audited Companies House accounts from CFO
•AGM
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Employees as owners
Strongly Agree Agree Neither Disagree Nor Agree
Disagree Strongly Disagree
27 27
9
0 0
What we do is part of who we are. We strive to make our working lives full of learning, enjoyment and accomplishment.
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Governance
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Making it REAL
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Changing behaviours
PARTNERSHIP
= MAKING A DIFFERENCE
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Training &Development
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WHAT IT MEANS to us
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@InspireEO
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Q & A
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Thank You
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@InspireEO