It isn’t surprising to us to see more firms operating within care making this choice. We know some of the main drivers that lead companies to opt for Employee Ownership are:
- Wanting to reward hard-working staff for their dedication
- Wanting a business model that sits well with company ethos and values
- Wanting an engaged, motivated workforce
- Wanting to recruit and retain the best people
- Wanting to make sure local jobs stay local if the business is sold
Clearly, all these sentiments align well with the needs of the care sector. Employee Ownership has consistently been shown to improve staff engagement and wellbeing, and, of course, happier staff make for happier and more functional work spaces. Within the realm of care, this is crucial to the wellbeing of the vulnerable or the elderly people being looked after.
Since Employee Ownership gives employees a say in how the business is run, clients and their families can benefit from extra reassurance that the business will remain rooted in the area, for the benefit of local people, and with little chance of disruption to the routine of their loved one. The retention of dedicated, experienced staff is clearly a priority for the company in question and for its performance-based profitability, as well as for the families of those being cared for, who want to know their loved one is in the hands of the best personnel.
If you are considering your ownership succession options for your care company, please contact us to discuss how Employee Ownership may be the answer – all our advice and support is fully-funded.