June 24th 2022 was the annual Employee Ownership (EO) Day, a national celebration of the benefits of being an employee owned company. Last year’s theme was Grow EO! Chosen by the EO Association because the current climate is challenging the ways that we do business but there is always space to grow.
Our move to employee ownership helped us overcome a set of significant business issues that arose 8 years ago. It has also made us more resilient (so that we have actually grown!) during this current storm.
Succession planning first spurred us on down the employee ownership route – the previous managing director wanted to retire. This came at a time when our market was undergoing radical change and we also needed to overcome some legacy issues that inevitably creep in with any company of our age (established 1969!).
Our team can testify to the difference the move to employee ownership made. We see employee ownership as a win-win.
It’s a win for the business
We have seen an increase in employee engagement and productivity. In the past 8 years the team has transformed our working processes and our products – often with suggestions that have come from team members not management.
It’s a win for customers
They reap the benefits of product enhancements, faster project turnaround and a reduction in the time taken to respond to issues and requests. CAS has always been known as a collaborative, friendly and responsive company, but it’s true to say that employee ownership gave us the renewed focus we needed.
It’s a win for our employees
They now have greater insight and input into the company’s strategic direction. They have a stronger voice which has led to the increase in innovation and improvements already mentioned. And of course, they have stake in the company so the success of client projects and the impact on the bottom line is now personal.
If your company is considering employee ownership, we would encourage you to explore further. We certainly have no regrets! Feel free to contact Ken Naismith via our Contact Form. He would be happy to share our experience with you.