Employee trust ownership:
one year on
Team has now been fully employee owned for over a year, celebrating our first anniversary of employee trust ownership in December 2017. As a growing business with over 110 employee owners, we’ve recently been reflecting on what employee ownership means to us, both as individuals and as a collective, as well as what it means for our clients.
We firmly believe that being employee owned is key for building a successful and sustainable business. It helps support our culture and values while providing the best service for our clients.
We’ve appointed Stella Wooder, former Head of Project Management at Team, to Chair of the Board of Trustees, a non-executive director role tasked with developing our standing as an employee owned company.
“…being employee owned is key for building a successful and sustainable business.”
Stella takes over from Dan Flicos, and will bring new independence to the role as she will no longer be an employee or a beneficiary of the Team Trust. Stella was the obvious choice for this position, with extensive experience working for scientific consultancies and also supporting life science technology companies.
Commenting on her new role, Stella said, “As chair of the board of trustees my status will change – I’ll be a non-executive director, rather than an employee.”
“What I hope to bring to the role is my knowledge of Team and the people within it, extensive knowledge of the tech consulting sector, as well as a very strong element of independence (because I won’t be an employee). I’m thrilled, because I’ll remain connected to Team and carry on doing my bit.”
We asked all our owners to reflect on what being part of an employee ownership trust means for them:
“It’s great to have a say in how the business is run, and know that you have a voice that will be listened to. Team had that when I joined, but the EOT really crystallises this for me.”
Matt Chandler, Head of Mechanical Engineering Group
“Along with my colleagues, I’m an owner of this business, not just an employee, stakeholder or even shareholder. I share equally in the responsibility and in the authority for its continued success. While I delegate some of my responsibility and authority to our leadership team – who will do a far better job of leading than I will – I retain the power and the duty to influence them if I feel their direction is wrong. Personally, it is that sense of empowerment that is the big difference.”
Martin Bontoft, Head of Design Research
“The staff have a voice, and it’s actually listened to. It stops you feeling like an insignificant cog in a big machine when the CEO will gladly hear your concerns and ideas – and act on them.”
Rick Westall, ICT Operations Analyst
“We can plan for business growth without being driven by the need to satisfy external shareholders. The business works for the employees, rather than vice versa.”
Chris Bunce, Project Manager
“I feel there is a stronger sense of purpose, and a common goal that aligns people through the opportunity to benefit each other and our clients. It is great to be in a business that puts its people at the centre and gives them an opportunity to have a say and make a genuine difference.”
Hannah Murfet, Quality Assurance Manager