Becoming an Employee Owned Business
30th June 2021
Becoming an employee owned organisation felt like the natural and right progression for us as a company. CMC is a SME, where collaboration has always been at the heart of what we do, both externally with our clients and especially internally with all our staff.
CMC started over 20 years ago, as a management consultancy with the aim of putting relationships with our clients first. This ethos extended into how we treat our staff and those that work with us.
Our owners wanted to protect the future of the business, our staff and maintain the culture and ethos of company they had built up from inception. This was a key driver to making the decision to move to being employee owned.
On the 1st Feb 2021, we moved to being an Employee Ownership Trust (EOT), a move supported and embraced by everyone in the company.
How are we developing as an employee ownership?
Our journey as an EOT has only just started. We have set up a Trust Board and have an excellent independent Trustee to help and support us as we mature into being an EOT. We are laying the foundations for the EOT through the appointment of the Trustees, including staff representation, open communications and engagement with our partners, and recognising the change required to fully transition to become a successful EOT.
We have always shared business information with our staff, and now this is being done in the spirit of being an EOT. Participation and collaboration are increasing in how we understand and set the direction of the business.
Our future as an EOT?
We see this coming year as key to how we develop our EOT. Gaining understanding of what this means to us as employee owners, and how we as a business need to change to accommodate this. We are looking at increasing the way we gain participation from all our CMC partners, to build on our collective strengths. I am very grateful of having such a strong, supportive and passionate team in CMC, all of whom embrace this change and I am excited by the future opportunities it brings us all as part of an employee owned company.
I am happy to share more on our journey to date, or to hear from others on the same path.
And to all our fellow Employee-Owned companies… happy EO Day 2021!
By John Daley, Managing Director at CMC Partnership Consultancy Ltd