A Bristol-based human resources consultancy is set to transfer to employee ownership as part of succession plans announced by its founder.
The HR Dept franchise, whose head office is in Emersons Green, was established in 2002 by Sue Tumelty to supply outsourced human resources services to local employers.
The business has since grown to more than 100 branches across the 海角视频, Ireland and Australia, serving more than 6,500 small businesses.
The company has now revealed that from November 1 it will be owned by its workers, with Ms Tumelty set to continue as a director for the next five years.
A newly established Employee Ownership Trust (EOT) will include all HR Dept Group businesses, comprising the company鈥檚 central franchise operation and its health and safety division.
Ms Tumelty said she had considered many options for a succession plan but protecting the company鈥檚 culture and values had been a 鈥渧ital鈥 factor in her decision.
Ms Tumelty said adopting an employee ownership model would help protect jobs and incentivise staff to continue to grow the business.
Ms Tumelty said: 鈥淗anding the business over to people I trust is really important to me. Over the years I鈥檝e received advice from left, right and centre on how to transition out of direct ownership, but none of it has come from people I think had the best interests of the business at heart.
鈥淪o I鈥檓 excited that I鈥檝e found a solution which works for everyone and I thank everyone involved in making it happen.鈥
Ms Tumelty will sit on the EOT's board with its incoming chief executive and chair Keith Sadler, who is currently a non-executive director for the group of companies.
Mr Sadler will present information on financial performance and goal achievement to elected employee representatives every six months.
Managing director Felicity Kenny, finance director Lian McQuade and directors Helen Thomas and Stacey Mead will also be on the senior leadership team.
They will be joined by an independent solicitor from legal firm Ashfords to ensure operations are run in the interests of employees.
Mr Sadler said: 鈥淲e鈥檝e always felt unique as an organisation and that鈥檚 been largely set by Sue in terms of the culture she鈥檚 created here.
鈥淲e鈥檒l look forward to continuing her great work, not only in establishing The HR Dept as the leading franchise for outsourced human resources provision for smaller businesses but by building our health and safety operation too.鈥
Representative body the Employee Ownership Organisation (EOA) said The HR Dept is now one of 730 employee-owned companies in the 海角视频, many of which are SMEs and of which 250 have transferred ownership in the past 18 months.
Deb Oxley, chief executive at the EOA, said: 鈥淓mployee ownership is a highly flexible and successful business structure and we congratulate Sue and the leadership of The HR Dept for taking this step.
鈥淏usinesses that give employees a stake and a say build trust and shared responsibility, therefore uniting leaders and employees behind a common purpose. This leaves the business in a better position to flex and adapt as the economy looks to recover and renew.鈥
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