Lavender International now employee-owned
13/03/2017Employees at Lavender International have now taken ownership of the business. Being employee-owned means that everyone in the company is a co-owner and equally motivated to ensure its success. Employee ownership is not a new model of ownership but it is believed that this is the only NDT training company to be wholly owned by its employees. The most well-known employee-owned business is John Lewis/Waitrose, where the staff are all partners within the company, and the John Lewis model has been around since 1929.
As a business model, employee ownership is now growing at just under 10% a year, with 46% of employee-owned companies moving to this model since 2010.
This business model fits with recent calls from government for a more inclusive economy and having more people in control following the unveiling of the modern Industrial Strategy.
From this have come recommendations for improved corporate governance and a widening of social mobility, to ensure that opportunities are spread more evenly within business and that employees are better represented.
Deb Oxley, CEO of the Employee Ownership Association, said: “With the financial crisis, Brexit vote and the government’s Green Paper on Corporate Governance all driving business to look at fairer ways of doing business that benefit everyone, it is clear there are lessons that can be learned from employee-owned businesses.
“Within our membership there are great success stories of how employee representation and the employee voice have driven excellence within businesses, having effects on productivity, staff growth and turnover, which is also demonstrated in the annual reporting of the results for the Top 50 employee-owned businesses.”
Lavender International believes the employee ownership model is perfectly placed for the future. The shared ownership it offers unleashes greater responsibility, it empowers more efficiency and it rewards more fairly.
Lavender International is bringing a fresh and new approach to the world of NDT training.