02 July 2013
02 July 2013
The first ever UK national Employee Ownership Day is being launched on the 4th July 2013 by the Department for Business Innovation and Skills (BIS), with campaigning by the Employee Ownership Association (EOA).
Scott Bader has been a common trusteeship company for over 60 years and is an active member and strong supporter of the EOA. Chairman, Richard Stillwell, and Group Managing Director, Philip Bruce, along with various Scott Bader Commonwealth board members and employees regularly attend the EOA annual conference.
Philip Bruce explained why Scott Bader is so committed to employee-ownership and the EOA. He said, "Scott Bader is proud to be a founding member of the Employee Owners Association. All company shares were transferred to a trust in 1951 by the founder, Ernest Bader, which has enabled us to remain totally independent. This means that Scott Bader colleagues around the world share a common responsibility for sustaining and growing the company for the benefit of all employees.
“Through the Commonwealth Global Charity Fund, we also support local communities where we operate, and annually distribute a share of our earnings to good causes. We are passionate believers in the success of employee-ownership and are delighted to be a part of the Employee Ownership Association."
Scott Bader has no external shareholders, with all shares held in common and in perpetuity by the Scott Bader Commonwealth, a charitable trust. The philosophy is that each generation of employees must ensure the organisation’s long term success for the benefit of future generations.
The unusual structure of self-governance and employee-ownership that exists in Scott Bader provides additional dimensions to business and employee attitudes, as well as the way that the company interacts with the wider community. There are a number of unique advantages for Scott Bader of employee-ownership: supplier and customer relationships tend to be more stable and long-term, since Scott Bader cannot be taken over; and employees have a greater commitment and are more involved, as the board must consult in advance with the relevant representative groups about any major organisational changes, significant business-investment decisions and annual charitable giving.
As part of the Employee Ownership Day’s activities, a conference has been jointly organised by the EOA and BIS in London, with the EOA hosting its annual Summer Dinner in Parliament that evening. During the build-up and throughout the day, people can use social media to comment and follow the day’s activities using #eoday and #employeeownership on Twitter, or via the LinkedIn UK Employee Ownership Group.