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Midlands employment agency SF Recruitment has invested £1.2 million in the business which has seen its leadership become shareholders and a new profit-sharing scheme for staff launched.

Chief executive Saira Demmer and her management team of Rebecca Parnell, Damien Lewis, Dominic Syalon, Mike Lattimer and Joanne Eaton have become shareholders.

The agency, which has offices in Birmingham, Leicester and Nottingham, has also announced the launch of an ownership scheme where every employee shares in the future profits of the company regardless of job title, seniority or tenure.

Ms Demmer said: "It was important to us to put our money where our mouth is and give our people real ownership and a stake in our collective success.

"We are on a mission to build a business full of brilliant people and we want to reward the contribution each of these individuals makes through more than just standard remuneration models."

SF Recruitment will continue to be backed by Hamilton Bradshaw, the private equity house owned by former BBC Dragons' Den star James Caan.

He said: "As a business, SF Recruitment continues to go from strength to strength and I am very excited about its future under this talented management team."

The company is also giving more power to staff to choose where, when and how they work and earlier this year it invested £250,000 in a triple office relocation aimed at promoting and facilitating flexible working.