We were delighted to be part of UK Employee Ownership Day (EO Day), run by the Employee Ownership Association (EOA), on Friday 30th June 2017.
For us, EO Day has been every day since 1965 when Ted Cullinan established the practice based on cooperative principles. In the weeks leading up to 30th June we posted daily soundbites from our members on what Employee Ownership means to them. Look out for the hashtag #EODayEveryday on our Twitter and Instagram feeds.
EO Day itself was business as usual (including our regular communal Friday lunch and teatime) but with the added treat of a breakfast pow-wow to set the day off to a healthy start and ending with a special toast to employee ownership.
We are proud to celebrate employee ownership alongside others in the sector across the UK, as Wen Quek, architect and partner of Cullinan Studio, and EOA Membership Council member, explains:
“Our practice started as it meant to carry on, with employees sharing responsibilities and deciding how we wish to work, taking ownership of who we are and what we do, and empowering individuals to develop their potential and contribute to society. On EO Day, we collectively affirm our EO values.“
Deb Oxley, CEO for the Employee Ownership Association, said:
“Companies such as Cullinan Studio are great examples of the economic and social benefits that can be achieved in an employee owned environment. The EOA is proud to lead the sector-wide celebrations of employee ownership on EO Day 2017, as part of our activity to raise awareness and move employee ownership further into the mainstream of business structures.”
With numerous events running across the UK and the involvement of thousands of employee owners and other partners, 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, social care, education, transport, manufacturing, retail and professional services