Today heralds the beginning of an exciting new chapter in Network ROI’s history as we become one of the UK’s first fully employee-owned Managed Service Providers.
Major shareholder and Managing Director, Sean Elliot will officially sign over ownership of the business he formed in 2003 to all 32 employees.
Senior Projects Engineer, Alastair Hoey, has been with Network ROI since 2011 and knows first-hand how important the employee-ownership model and the specific values of the company have been to his flourishing career. “I finished University having completed a BSc (Hons) in Computing & Networking and started working at Network ROI shortly after as a level one helpdesk engineer. It is made crystal clear from the outset that hard work and dedication are required from every Network ROI employee to help the company achieve its ambitious growth targets.
Since then, I have progressed within the company to become a senior project engineer, responsible for delivering cutting-edge technology to more than 100 growing businesses throughout the UK. I am passionate about technology, but I also have a firm grasp of the reason we are in business – to make life with technology easier for our valued clients. Employee ownership empowers the team at Network ROI to take ownership of technology problems on behalf of the people we are supporting. We don’t provide excellent customer service as a tick-box exercise, or to make us feel better about ourselves, we care about the outcomes of our actions and do everything we can to help our clients run efficient and profitable organisations.”
Employee Ownership rewards employees for success
The employee-ownership model gives a controlling share to the people that are ultimately responsible for the success of the business – employees. So, if the company has a profitable year, employees can be awarded a bonus, payable net of income tax. A key aspect of employee ownership is ensuring employees have a voice in the business & can directly influence its direction & success. These important distinctions from traditional business models drive employee-owners to strive for more and achieve better outcomes. Also, by giving the team an unfettered view of business performance, it empowers everyone to take responsibility for self-development and the greater good of the organisation.
You might be thinking employee-ownership sounds like a cuddly socialist utopia but it is far from it. Like any other business, survival and growth are dependent on a strong leadership team making strategic decisions for the long-term health of the company and its employees. Research suggests that employee-owned companies can be more profitable and that levels of employee satisfaction and retention are higher than at many of their traditional counterparts.
Employee Ownership protects client relationships
In the technology industry, it is common for small and medium-sized companies with the regional expertise to be bought by larger organisations. Usually, when this happens, employee numbers & service levels drop, and prices increase as the buying party aims to streamline operations to deliver shareholder value – ironically!
Eventually, clients may become unhappy and move to a competitor, further affecting the bottom line. When Sean first set out his plan to sell his share of the business back in 2013, continuing to deliver high-quality service to a growing list of satisfied clients was at the top of the agenda as he sought the best way to achieve a phased & planned exit from the business over a period of time.
Although Sean will no longer be the principal shareholder in the business, he’s not going anywhere at the moment. He will remain as Managing Director and will continue working with and developing the leadership team to guide Network ROI towards a prosperous and exciting future as an employee-owned business.