Ethos Imaging Ltd to become 100% employee owned company
Ethos Imaging are pleased to announce that towards the end of last year the company began the process to transfer the business to 100% employee ownership.
Ethos Imaging has joined the Employee Ownership Association, an organisation dedicated to the support and promotion of the employee owned business sector, and will shortly become a company 100% owned and managed by it's employees. Employee owned businesses are increasing in number and bring many benefits to both employees and customers.
In 2014 the UK government introduced changes to tax legislation that supported the sale of businesses to it's employees through an Employee Ownership Trust. Research suggests that employee ownership, when underpinned by strong mechanisms for employee engagement, can offer many benefits to employees, businesses and the wider economy. For example, it can:
• Provide a catalyst for greater employee commitment, engagement and well-being.
• Reduce absenteeism, staff turnover and accidents in the workplace.
• Produce substantially faster employment and sales growth, compared to businesses that do not have employee ownership.
• Lead to higher productivity and profitability, compared to businesses that do not have employee ownership.
• Display less variability over the economic cycle, giving a business greater resilience through times of economic difficulties
Employee Ownership - why it benefits our customers
We are proud to have embarked on this journey to become an employee owned company. Ethos Imaging are a small company in a very competitive market, we maintain a collaborative approach to working and believe that this will be strengthened further by our future Employee Ownership status. Employees will have a greater insight and input to the overall business and we will have a more engaged and fulfilled team. According to Edinburgh Napier University , 80% of employee owners are happy to recommend their organisation as a place to work.
The Employee Ownership Association explains why employee ownership is such a good thing for customers:
“Customers are increasingly looking for products and services they can trust and which reflect their personal values. It is becoming more apparent that one of the reasons employee owned businesses are doing so well in their market places is that customers trust their products and services. They appreciate that employee owned businesses are fair and equitable, and the fact that employee owners focus on permanently exceeding customer expectations."
See the full article on employee ownership on the EOA website (September 2014)
The facts & figures