FEATURE
HOW AN EMPLOYEE- OWNED BUSINESS MODEL DRIVES SUCCESS
Switching to an employee-owned model can help make businesses more profitable , competitive and sustainable while sharing the benefits of success with the people who helped to make it happen . That ’ s the message from Jo Ritzema , Managing Director of WCF , a leading UK part employee-owned company , after research revealed that the number of businesses in which employees had a stake had grown by 37 % in 12 months . She tells us more about the benefits of an employee-owned business model . businesses in the UK rose to 1,418 in the 12 months to June 2023 , with 332 new employeeowned businesses being established during 2022 . Ritzema , who leads a team of nearly 400 people at WCF , said : “ Being an employee-owned business drives productivity and innovation because the team is invested emotionally and financially in the long-term success of the company .
WCF operates in the leisure , retail and logistics sectors and Managing Director , Jo Ritzema , said an employee-owned business model allowed firms to focus on long-term success rather than short-term profitability targets , built resilience and encouraged a loyal , engaged workforce with shared responsibility and a strong sense of corporate social responsibility .
According to the Employee Ownership Association , the number of employee-owned
“ At WCF , it has enabled us to grow the business steadily without the pressure to take risks which would benefit stakeholders only in the short-term . We are able to make decisions which put the interests of our employee owners first , with the ultimate aim of handing over the business to the next generation in a stronger financial position than when we inherited it , so future employee owners can benefit from its continued existence .
“ By not having to worry about the business being sold , we can ensure that the WCF legacy , history and culture is passed on .”
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