East Anglian Recruitment Firm, Just Recruitment has announced its intention to launch a new Employee Ownership Trust (EOT), being the first recruitment agency in the region to do so.
The agency, which has over 50 employees across 6 offices in East Anglia will become employee owned in order to secure the company’s long-term future and organisational culture. The new structure will take effect in December 2017.
While the long-term implications of the move will be far reaching, in the short to middle term there will be no operational change. The existing management team will remain in place. The existing investment programme, that has seen the implementation of new technology, an office refurbishment plan and the introduction of a formal training scheme will continue.
What has changed is that future company profits will be placed into a trust fund, which solely benefits employees.
Next year the company celebrates 35 years in business, and shows no sign of slowing its growth. Just Recruitment was the brain child of local entrepreneur, Jenny Wrightson, who opened her first branch in the Essex market town of Braintree in 1983. Since those early days Jenny has guided the company to be a £15m turnover company, and the region’s premier independent recruitment agency. This latest step in the company’s evolution builds on 35 years’ experience and provides a platform for the future.
Jenny Wrightson explains; “Just Recruitment has always been a company dedicated to placing people first, so this route of ownership seemed like a natural progression to us. Our company has experienced great success over the years due to our employees, and our move to employee ownership shows our gratitude to our employees for their service.”
“Selling our organisation to another company, would have caused us to lose our team ethos, so was not an attractive proposition. Employee Ownership retains and strengthens company culture and will ensure that Just Recruitment is always part of the local community.”
Further information about EOTs and how they work can be found at EOT Info Hub.
Posted on Tuesday Nov 21