Staff at Swindon's National Self Build & Renovation Centre are celebrating as independent business owners thanks to an employee ownership scheme.
Staff of the NSBRC, based just off the M4’s J16 at Swindon, will be taking part in the UK Employee Ownership Day (EO Day), run by the Employee Ownership Association (EOA), Friday 28 June 2019.
The campaign, sponsored by employee owned business Gripple, highlights the impact of employee owned businesses on the individual and the community. Since taking business into their own hands the NSBRC is currently 81% owned by its team and has noted a number of benefits:
- The ‘buy-back’ of 2% of the NSBRC's investors shares for three consecutive years (by hitting profit targets)
- Its second consecutive Profit-Share being paid this June (equivalent to over £2,500 for every full-time employee)
- Attracted over 30,000 visitors to the centre in 2018 (17,237 self-builders + c14,000 conference delegates)
- Investment in its first ever digital TV advert to grow awareness of the NSBRC (going to air in September)
Ahead of EO Day the NSBRC team will be hosting a business networking event for their clients on Tuesday 25 June – with Deb Oxley OBE, the CEO of the Employee Ownership Association, as a special guest speaker. Deb was recognized in the 2019 New Year Honours list, for her services to employee ownership and social enterprises.
Formed in 2014, and now employing 17 staff the UK’s only Self Build Visitor Centre, the centre's managing director, Harvey Fremlin, says he's "proud" to celebrate employee ownership alongside others in the sector across the UK. He said: “We are thrilled that Deb Oxley OBE, is attending our Partner Forum. She will be discussing her ambition to see 3 million employee-owners in the UK and we encourage business owners to explore the EO model. Operating in this way has transformed our business and we have a settled, happy team, who are all benefiting from having a true voice in the future of our business and the decisions we take.
“EO Day is really exciting as over 350 businesses across the UK, including brands such as Lush Cosmetics, Aardman Animations and Riverford Organics, are running activities to mark the day. For us it is a chance to spread the word, engage with the community about what we do and, most importantly, celebrate as a team!”
Deb Oxley, CEO for the Employee Ownership Association, added: “Companies such as the NSBRC are great examples of the economic and social benefits that can be achieved in an employee owned environment. This is why we celebrate the impacts of employee ownership on the individual, the business and the communities in which they are based.
“The EOA is proud to lead the sector-wide celebrations of employee ownership on EO Day 2019, as part of our activity to raise awareness and support the growth and impact of employee ownership in the UK.”
On the day itself the NSBRC team will be celebrating paying its second consecutive profit share – with staff each receiving a taxable bonus of £2,500. The Centre will close early on Friday 28 June to allow the whole team to enjoy a BBQ & games with their families.
With numerous events running across the UK, EO Day is an integral part of the EOA’s events calendar and was introduced to raise awareness of employee ownership as an economically strong and balanced business model.
The benefits of employee ownership have been proven in EOA-led research, and include improving employee health and wellbeing, increasing productivity and fostering creativity and innovation across an array of industry sectors. In addition:
- UK employee owned companies contribute over £30 billion to the UK economy annually
- Employee-owners have higher levels of job satisfaction, feel a greater sense of achievement and job security, and are more likely to recommend their workplace than employees in non-employee owned businesses
- Employee owned businesses operate in a range of sectors including healthcare, housing, education, transport, manufacturing, retail and professional services
For further information visit: www.nsbrc.co.uk