All together now - what would it mean if everyone was an owner?
Baxi Partnership is a unique organisation who specialise in supporting the creation and growth of strong, employee owned businesses.
Have you ever contemplated moving to full employee ownership? If you have considered a share scheme to encourage some of your staff to buy into your company, you might be interested to learn just what impact it can have when everyone in the organisation becomes an employee-owner.
Our first-hand experience in helping organisations to transfer into full employee ownership has shown time and again that giving employees a significant stake in the enterprise they work for, and real participation in how that business is run, produces superior performance and productivity.
Importantly, ownership by itself does not guarantee the crucial uplift in motivation levels. It is that combination of having a stake and a say that can deliver a real step change in how much your staff want to get out of bed in the morning and come to work which in turn has the potential to unlock the kind of success enjoyed by the likes of the UK's largest and best known employee owned business, the 75,000-strong John Lewis Partnership.
There is plenty of evidence that shows businesses who adopt full or substantial employee ownership will tend to see significant increases in productivity and performance. A survey published last year (2010) by the CASS business school stated that when compared to non-employee owned peers in similar markets, employee owned businesses saw superior productivity levels of between 9 and 19 percent.
That same CASS survey reported that employee owned businesses consistently out-perform traditionally structured companies through periods of recession, and out-perform those same companies overall when judged across a full economic cycle.
Underlying this evidence is the insight that enhanced levels of employee motivation and engagement with achieving the core aim of the business bring a series of additional benefits, not just improved performance.
In keeping with higher levels of staff satisfaction, absenteeism tends to be substantially reduced whilst levels of staff retention shoot up and businesses find it easier to recruit high quality staff.
Transparency around business performance (which employees as owners are entitled to) together with a tendency for staff to be more innovative and entrepreneurial, help create and sustain an internal culture of peer challenge and continual improvement.
Finally, employee ownership creates more sustainable enterprises, as decision-making is focused on promoting longer term success over short term risk-taking, which in the plc model is often driven by at the whim of external shareholders.
At Baxi Partnership, we practice what we preach. We are an employee owned company with a 10 year track record of providing support services, an employee ownership pedigree that goes back 30 years, and a history that stretches back to 1866.
We offer support in helping companies to transition into employee ownership, in enhancing their ownership culture and driving performance levels within employee owned companies, and through our own fund can offer support around raising the finance to enable transition.
Baxi Partnership has been working closely with RM2 to create a seamless support service for anyone thinking about moving to full employee ownership.
If you want to know more about Baxi Partnership, or about the benefits of full employee ownership, they are happy to talk to any RM2 contact (firstname.lastname@example.org).