Tangerine MD speaks about Employee Ownership Day
Today is Employee Ownership Day, a day for celebrating employee ownership of companies.
To many, the day is an opportunity to reflect on the economic and social benefits that employee ownership is making to thousands of businesses and employees up and down the country.
To find out exactly what employee ownership means and the benefits it provides, we talked to Sam Gregory, joint MD of creative comms agency Tangerine, which has been employee-owned since 2017.
Tell us a little bit about Tangerine, and what employee ownership means to the business.
Tangerine has been proudly employee-owned since 2017, when we put 64% of shares into an Employee Ownership Trust called The Tangerine Partnership. It’s been a long-standing vision for the business and fits perfectly with our culture.
Everyone at Tangerine is thought of as a partner of the business and has a real stake and role in the decisions we make and the direction we take.
What does this mean for your employees?
It means we are able to reward all of our employees equally for their hard work, regardless of their level of seniority. It’s a great motivator, as everyone is able to reap the benefits of helping the business grow, and get a great tax-free bonus at the end of each year.
The Trustee Board and Partnership Board – who are elected from all parts of the business - ensure everyone has a real say on how things are run. It’s not just about giving all employees a financial stake in the company, but also a personal stake and real voice.
How does employee ownership affect retention and recruitment?
Our culture is really important to us and we put a lot of thought into making sure we nurture each other’s wellbeing and together create an environment that helps people and ideas flourish. This, together with our employee ownership status, means we can attract and retain the best people and the best talent so that we can deliver the industry-leading work Tangerine is known for.
Why should other companies become employee owned?
It creates a really positive and motivational environment when employees know that they’re directly benefiting from their hard work. Young people are increasingly entrepreneurial and self-starters in their approach to professional life; working for an employee-owned company provides all of the rewards and sense of self-determination without the risk.