IT and business services partner Agilisys has become one of the first and largest UK businesses to adopt a ‘John Lewis-style’ Employee Ownership Trust (EOT) model of employee ownership.
The company has created an EOT that means that the trust now holds the majority stake in the company on behalf of all Agilisys employees.The EOT exists to secure the continuation of Agilisys as a successful, independent and professionally managed business for the benefit of its employees. The new structure will allow employees to have greater engagement and ownership in how the business operates and ensure that they benefit from its future growth and successes.
Such models have government endorsement following the Nuttall Review in 2012 and legislative changes made in 2014, and consequently, such models have gained further recognition as being in the best interest of employees and clients.
Independent research shows that businesses who have adopted an employee ownership model report better financial performance, improved productivity, improved employee engagement and improvements in the products and services delivered to customers. Agilisys believes that the EOT further differentiates the company from other businesses with traditional ownership models, making Agilisys an attractive proposition for organisations seeking to work with an ethical employee-driven partner.
Charles Mindenhall, chairman and one of the Agilisys Founders commented: “I believe that by introducing significant employee ownership it will provide an exciting structure for the continued growth of Agilisys which is strongly consistent with and a natural extension to the collaborative culture and principles which are in place within the Agilisys group.
“I am excited about the future of the business, and as the Chairman look forward to continuing to deliver important services to our existing customers as well as the opportunity to work with new prospective clients.
Minister for the Cabinet Office, Matthew Hancock MP added: “As an innovative company providing services to government, I am delighted that Agilisys has recently adopted the new “John Lewis-style mutual” Employee Ownership Trust model.
“The government totally supports employee owned business models. Research has demonstrated that giving employees a ‘stake’ in the organisation they work for drives increased performance in the services they provide, delivers improved employee commitment, and is overall better for the UK economy.”
Although the EOT will now have an active role within the business, there are no major changes anticipated to Agilisys’ management.
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