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
Export Administrator
Sector: Public Service and Administration
Salary: £28,000 - £34,000 per annum
Location: Halstead
Role: Full Time
Contract: Permanent
Job ref: 913722
About the role

Just Recruitment is supporting a well-regarded business based in Halstead with the recruitment of an Export Administrator to join their team.

You will be responsible for servicing current and prospective customers by receiving and processing orders, enquiries and general information in a timely and courteous manner.

Key tasks include:

  • Answering incoming calls, giving product information, lead times, dealing with general enquiries and queries, and redirecting calls to relevant departments.
  • Processing and managing export orders, shipments, and documentation in compliance with international regulations and procedures.
  • Providing excellent customer service and handling any queries or complaints related to export operations.
  • Maintaining accurate records and reports of export activities and transactions.

Key requirements include:

  • Excellent computer skills.
  • Good eye for detail.
  • The ability to work well under pressure.
  • Courteous.

Preferred experience includes:

  • Previous Export Administrative experience gained within an office environment.
  • Excellent telephone manner with the ability to communicate at all levels.
  • High level of attention to detail and accuracy.
  • Good working knowledge of Microsoft Office and experience with in-house systems.
  • Ability to multitask and prioritise own workload.
  • Exceptional communication skills, both written and verbal.

Hours:

  • Monday to Thursday, 8.30am to 5.00pm.
  • Friday, 8.30am to 2.30pm.

 

Just Recruitment acts as an employment agency for permanent roles.
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
Bench Joiner
Sector: Property and Construction
Salary: Competitive
Location: Colchester
Role: Full Time
Contract: Permanent
Job ref: 913700
About the role

Just Recruitment is working with a growing organisation, based on the outskirts of Colchester, to recruit a Bench Joiner to join their highly skilled and established team.

You will be working on a variety of bespoke projects — the key purpose of this role is to manage your day-to-day duties, including carpentry using hand and power tools, framing and finish carpentry. This is a team role, working collaboratively across the wider business, to create exceptional joinery pieces.

Key requirements for this role:

  • Own set of tools is a must!
  • Experience in a similar role
  • 3D/2D design experience
  • Joinery background
  • High level of attention to detail
  • Effective analytical skills
  • Systematic approach to tasks

Working hours for this role are Monday to Friday. 07.30 to 16.30.

Over time is available.

Free on-site parking is available, along with a great working environment, opportunities for career progression, and the chance to work with new, automated processes and equipment — full training provided.

This role offers a really competitive package.

 

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
CAD Designer
Sector: Engineering and Manufacturing
Location: Colchester
Role: Full Time
Contract: Permanent
Job ref: 913701
About the role

Just Recruitment is working with a successful and growing company based on the outskirts of Colchester, to recruit a CAD Designer to join their experienced and talented team.

In this role, you’ll be at the heart of the design process – creating detailed technical drawings for bespoke joinery projects, including cabinetry, furniture, and architectural woodwork. You'll work closely with the internal team to bring custom designs to life, ensuring every piece meets exact client specifications and supports seamless manufacturing.

Key duties include:

  • Technical drawing and design:
  • Create detailed 2D CAD drawings for custom joinery projects using AutoCAD.
  • Develop accurate and detailed technical drawings for manufacturing, including plans, elevations, sections, and detailed joinery components.
  • Interpret and translate client briefs, architectural drawings, and design concepts into technical drawings.
  • Ensure all drawings comply with industry standards, company specifications, and project requirements.

Collaboration and communication:

  • Work closely with the design team to understand project requirements and offer design input.
  • Collaborate with the production team to ensure drawings are feasible and align with manufacturing capabilities.
  • Liaise with Project Managers, Architects, and clients to resolve any design or technical issues.

Quality control:

  • Review and revise drawings based on feedback and ensure the accuracy of all final deliverables.
  • Maintain up-to-date project documentation and version control of drawings.
  • Conduct regular checks to ensure drawings meet company standards and regulatory requirements.

Role requirements include:

  • A degree or diploma in CAD, Engineering, Architecture, or a related field.
  • Proven experience (3+ years) as a CAD Technician, ideally within the joinery or woodworking industry.
  • Proficiency in AutoCAD is essential.
  • Experience with other CAD and 3D modelling software, such as SolidWorks, preferred but not essential.
  • Strong understanding of joinery techniques, materials, and construction methods.
  • Excellent attention to detail and a keen eye for design.
  • Strong problem-solving skills and the ability to think critically.
  • Effective communication skills, both written and verbal.
  • Professional, reliable and willing to learn.
  • Ability to manage multiple projects simultaneously and meet deadlines.

This is an excellent opportunity to join a great team, offering a very competitive package and further development.

Working hours are Monday to Friday. 07.30 to 16.30.

Free parking is available on-site.

 

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
Cleaner (part-time)
Sector: Customer Services
Salary: £12.21 per hour
Location: Ipswich
Role: Part Time
Contract: Temporary
Job ref: JT-IPS-C-0725
About the role

Just Temps is supporting a company in Ipswich, seeking an experienced Cleaner to join their team on a temporary basis. This is a great opportunity for someone looking for short-term evening work.

Hours: 5.00pm to 9.00pm (Monday to Friday)

Role responsibilities include:

  • General office cleaning across multiple floors
  • Cleaning of toilets, canteen areas, and communal spaces
  • Lifting and transporting heavy cleaning equipment up and down stairs
  • Ensuring high standards of cleanliness are maintained throughout the building

Requirements:

  • Previous cleaning experience is essential
  • Capable of handling heavy equipment
  • Reliable and punctual with a strong work ethic
  • Comfortable working independently across various areas of the building

Benefits:

  • Competitive hourly rate
  • Evening hours – ideal for fitting around other commitments
  • Supportive team environment

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