Hi-Fi founder gives staff a richer future

The founder of Richer Sounds is celebrating his 60th birthday by turning the company into an Employee Ownership Trust

By Jenny Wrightson, founder and managing director, Just Recruitment Group Ltd

The founder and managing director of Richer Sounds has announced that he is giving 60 per cent of the company to his employees.

Julian Richer, who founded the business in 1978 at the age of 19, said that the time was right to establish an Employee Ownership Trust (EOT) and pass control to its workforce.

    ...Mr Richer announced that he would share a large portion of the £9.2m windfall he stands to receive from the transfer.  

In a further act of goodwill, Mr Richer announced that he would share a large portion of the £9.2m windfall he stands to receive from the transfer.

Each member of the Richer Sounds team will receive £1,000 for every year spent with the company. For the average employee, that equates to a gift of £8,000, but The Guardian reports that some staff will receive as much as £20,000.

Talking about his reasons for the move, Mr Richer said that turning 60 was a major motivator. His father died at that age, and the entrepreneur wants to establish a new ownership structure for his company in good time.

As well as their altruistic character, Employee Ownership Trusts bring a number of benefits to businesses. According to the Employee Ownership Association (EOA), around 350 companies in the UK have adopted the structure, with 50 more expected to convert soon.

As a result, they benefit from more engaged staff, improved productivity and better employee retention.

This is certainly what we’ve experienced at Just Recruitment since becoming an EOT in December 2017. Our staff now have a genuine stake in the business. Its success is their success, and they feel as if they can shape the future.

For us, the move to employee ownership felt entirely natural. I founded the company in 1983 and have thoroughly enjoyed leading it through nearly four decades of growth.

But it’s always been the case that Just Recruitment’s people are instrumental to its success. Even before we became an EOT, they committed to achieving our goals and establishing a thriving business throughout East Anglia.

For me, then, employee ownership was as much about rewarding loyalty as inspiring employees for the future. It looks like Julian Richer feels the same: he’s always prided himself on having a happy team, where people feel valued and well cared for. Transferring ownership of his business to his staff is a logical next step.

    If you have a business that depends on the commitment and dedication of your people, it pays to show them that they are valued.  

With 53 stores and annual sales of nearly £200m, Richer Sounds is already a thriving concern. It has successfully bucked the trend towards online retail and puts great stock on the power of a face-to-face encounter with customers.

That is why the company has always looked after its staff, as we have always tried to do at Just Recruitment. If you have a business that depends on the commitment and dedication of your people, it pays to show them that they are valued. As well as being the right thing to do, it makes good business sense.

Employee ownership enshrines the right sort of relationship between an employer and their staff. It shows that a company’s success is a shared endeavour, by giving its people a direct stake. They can influence its destiny and benefit from its achievements.

I greatly look forward to seeing how Richer Sounds develops in the years ahead, as a high-profile model of employee ownership. If Mr Richer’s experience of handing over control to his team is anything like mine, he’ll be in for an inspiring, rejuvenating and empowering time.

Published: 22 May 2019

© 2019 Just Recruitment Group Ltd

If you liked this article, you may enjoy: Acknowledging that a child has grown up is never easy

You may also want to read: What place does ethics have in business?

Jobs currently available

New job
Production Operative
Sector: Warehouse
Salary: £12.21 per hour
Location: Braintree
Role: Full Time
Contract: Temporary
Job ref: JT-BRA-PO-0725
About the role

Just Temps is working with a respected manufacturing business based near Braintree to help them look for a reliable and motivated individual to join their specialist production team.

This is a temp-to-perm opportunity role!

Hours: Day shift, Monday to Friday, 38 hours per week.

Why this role?

This is a hands-on role and a great opportunity to be part of a highly skilled and collaborative team that works in a modern, clean, and controlled environment. You’ll be working with precision-manufactured products, contributing to a business that’s been going strong for decades, and if all goes well, this could become a long-term position.

What’s in it for you?

  • Eligible for a generous annual bonus (typically around 10%). Discretionary and not guaranteed
  • Full training provided
  • Clean and safe working conditions
  • Daytime working hours – keep your evenings free

What will you be doing?

You’ll be based in a specialised area. Typical tasks will include:

  • Polishing and finishing high-quality components
  • Preparing moulds and applying coatings
  • Carefully mixing and pouring resins using vacuum systems
  • Assembling parts and preparing them for final inspection
  • Maintaining a clean and tidy workspace, wearing full PPE

Who we’re looking for:
We need someone who is:

  • Practical, hands-on, and detail-oriented
  • Comfortable working with materials like resins and glues
  • Flexible and willing to learn new tasks within the department
  • Committed to health & safety and quality standards
  • Own transport is essential due to the location

Previous manufacturing or cleanroom experience is a bonus, but not essential – just bring a strong work ethic and willingness to learn.

Free parking is available on-site.

 

Just Temps acts as an Employment Business for the supply of Temporary Staff.
The salary advertised is the bracket available for this position.
We are an equal opportunities employer and welcome applications from all suitable candidates.

 

Read more
New job
Procurement Specialist
Sector: Purchasing and Merchandising
Salary: Competitive
Location: Sudbury
Role: Full Time
Contract: Permanent
Job ref: 913712
About the role

Just Recruitment is working with a growing manufacturing business, based on the outskirts of Sudbury, to recruit a Procurement Specialist to join their growing team.

The key purpose of this role is to be responsible for the procurement of raw materials, packaging, and indirect goods to support production requirements and business operations. This role ensures cost-effective purchasing while maintaining high standards of quality and supplier performance. In addition to purchasing responsibilities, the role owns the material planning function, ensuring optimal stock levels, accurate forecasting, and uninterrupted material supply to meet production schedules.

Key duties include:

  • Source, negotiate and purchase raw materials, packaging and consumables to meet business needs.
  • Maintain strong relationships with existing suppliers and develop new supplier partnerships.
  • Conduct regular supplier reviews on performance, pricing, lead times and compliance with company standards.
  • Issue and manage purchase orders (POs) to ensure timely deliveries and cost control.
  • Support cost-saving initiatives without compromising quality or compliance.
  • Take full ownership of the material planning process across all SKUs.
  • Develop, manage and maintain the material requirements plan (MRP) based on weekly production schedules and forecasts.
  • Maintain accurate inventory levels of raw materials and packaging to avoid shortages or excess stock.
  • Collaborate closely with production, warehousing and quality teams to ensure alignment on stock availability and usage.
  • Monitor inventory trends and flag risks related to potential shortages or delays.
  • Create and maintain rolling forecasts for materials based on sales, production plans and market trends.
  • Lead the weekly forecasting process, collaborating with production planning and commercial teams.
  • Analyse historical data to improve forecast accuracy and responsiveness to demand changes.
  • Maintain accurate records in the ERP system.

This is an excellent opportunity to grow and develop with the team and business.

This role offers a positive work environment with free parking available on-site.

Due to the company’s location, you must have access to your own transport.

Hours: Monday to Friday, 8am to 5pm.

 

Just Recruitment acts as an employment agency for permanent roles.
We are an equal opportunities employer and welcome applications from all suitable candidates.

 

Read more
New job
Warehouse Operative (with FLT licence)
Sector: Warehouse
Salary: £12.49 - £13.07 per hour
Location: Snetterton
Role: Full Time
Contract: Temporary
Job ref: JT-SNE-WO-0725
About the role

Just Temps is supporting a company in Snetterton, looking for a reliable and flexible Warehouse Operative with FLT licence to join their team.

This is a temp-to-perm opportunity role!

Hours:

  • Contracted: 8.00am to 4.30pm
  • Typical: 8.00am to 5.00pm (Monday to Thursday)
  • Early finish at 2.30pm on Fridays

This is a blended role — while FLT licences are essential, this is not a full-time FLT position. You’ll also be expected to handball stock, work on warehouse management systems, and assist across various departments.

Pay rate depends on your FLT licence:

  • PPT Operator — £12.49
  • Counterbalance / HLOP — £12.77
  • Bendi / VNA Driver — £13.07

What we’re looking for:

  • Valid FLT licence (Counterbalance, PPT, Bendi, VNA, or HLOP)
  • Willing to lift, shift, and get stuck in
  • Basic computer skills and attention to detail
  • A strong work ethic and positive attitude
  • Keen to secure a long-term, permanent opportunity

About the role:
You'll be supporting various warehouse operations. This includes:

  • Operating FLT as required
  • Manual handling and handballing
  • Data entry and stock checks
  • General warehouse duties

Free parking is available on-site.

 

Just Temps acts as an Employment Business for the supply of Temporary Staff.
The salary advertised is the bracket available for this position. The actual salary paid will be dependent on your level of experience, qualifications and skill set.
We are an equal opportunities employer and welcome applications from all suitable candidates.

 

Read more
New job
Trainee Engineer
Sector: Engineering & Technical
Location: Ipswich
Role: Full Time
Contract: Temporary to Permanent
Job ref: JT-IPS-TE-0725
About the role

Just Temps is seeking a Trainee Engineer for a well-established company based on the outskirts of Ipswich, Suffolk.

This is a dynamic role that combines technical expertise with customer service. You will have a passion for working with machinery and solving problems on the spot.

Key responsibilities include:

  • Service and maintenance: Supply, fit, service, and maintain compressors, pipework, receivers, dryers, and more!
  • Troubleshooting and repair: Diagnose faults, carry out temporary repairs when necessary, and ensure machines are running efficiently and effectively on-site.
  • Customer-focused: Engage with customers directly to discuss the best options for each job, offering expert advice and solutions. Once trained, you will become the face of the company, so a friendly and professional approach is essential.
  • Safety and PPE: Wear provided overalls and PPE (personal protective equipment) while working on various sites, some of which may be dusty or dirty.
  • Team collaboration: Work as part of a small but skilled team, sharing knowledge and ensuring jobs are completed to the highest standard.

What this role offers:

  • Full training provided: No experience? No problem! You will be trained to become an expert in servicing, including pipework, receivers and more.
  • Competitive salary: Dependent on experience.
  • 24/7 breakdown callouts: Once trained, you’ll rotate on callouts to assist customers in their time of need.
  • Company vehicle: After training, you will be provided with your own van for work travel. Until then, you'll travel with colleagues.
  • Work schedule: Monday to Friday, 8 am to 5 pm (with flexibility depending on job requirements). No bank holidays or nights away!
  • Generous holiday: Enjoy 25 days of annual leave once permanent.
  • Company mobile: After completing your training, you'll be provided with a company mobile phone.
  • Uniform and PPE: All provided once training is complete.

Essential requirements include:

  • A full UK driving licence is required for the role, as you will need to travel to various sites.
  • The ability to work at heights is essential for some tasks.
  • Manual handling with the ability to lift and handle heavy items.
  • Thorough knowledge of machinery, with the ability to troubleshoot, repair, and maintain compressors.
  • Excellent communication skills - completing job sheets, communicating with customers, and signing off tasks on-site.

What’s the role like?

This is a practical, hands-on role where every day is different. From performing repairs on-site to assisting customers in getting their machines back up and running, no two days will be the same. If you enjoy solving problems, working with machinery, and meeting customers, this role is perfect for you.

 

Just Temps acts as an Employment Business for the supply of Temporary Staff.
We are an equal opportunities employer and welcome applications from all suitable candidates.

 

Read more