Lindum has continued to be able to share its profits with team members over the past 12 months as a direct result of being an employee-owned business.
The Group paid out two separate dividend payments to the 600 employees who own a financial stake in the business, to reflect their efforts and the financial success and stability of the company.
Lindum also issued more than £200,000 of free shares to mark its 65th year in business in October and shared ten per cent of its profits (as it does every year), equally between all employees as profit related pay.
Today is national Employee Ownership Day and Lindum is joining companies across the country to celebrate the benefits of the EO business model.
Since 1994, everyone who works for Lindum Group has been offered the chance to buy shares in the company. Directors firmly believe that being employee owned brings benefits for staff, customers, and the wider community.
Director Freddie Chambers said: “We believe our employee ownership scheme is one of the main reasons Lindum has been around for so long and why we’ve been able to weather the storms of the past few years.
“We want our employees to feel invested in the company as if it is their own, which it is. if we do well, we share in that success together (and work as a team to solve problems too!)
“We encourage all our new starters to consider joining the share scheme and they can do as little as £10 per week or larger amounts.
“Many employees who have been with us for a long time are seeing their long-term investment making a huge difference to their savings as they head towards retirement.”
Each year Lindum issues all staff with a gift to celebrate EO Day. This year, the company has given out bags for life sporting the slogan ‘Use us again and again…’
Freddie added: “We are working towards being a net zero carbon company so the bags are a nod to this journey and a small gesture to help with that.
“The ‘reuse and recycle’ message is one we promote to staff, but of course we would also like it if our clients used us again and again too!’
EO Day is organised by the Employee Ownership Association (EOA). The trust says the number of employee-owned businesses in the UK has more than doubled in the past few years.
Lindum Group features in the Employee Ownership Top 50 Report as one of the fifty largest employee-owned companies in the UK, ranking at 37 in the list.
As part of the Top 50, the business contributes to the positive performance of the top end of the employee ownership sector, with a combined sales value of £21.7bn and combined employees of more than 181,000.
The Top 50 list covers independent UK-registered companies that are at least 25 per cent owned by their employees on a broad basis and UK subsidiaries of non-UK companies that are more than 75 per cent employee owned. (Lindum is 100 per cent)
There are now more than 1,000 businesses that are employee owned in the UK – a sector that contributes over £30bn to UK GDP.
James de le Vingne, Chief Executive of the EOA, said: “We consistently see the employee owned Top 50 outperform the rest of the UK economy when it comes to productivity.
“There is a lot that can be learned from these businesses when it comes to having better governance and oversight and better performance driven by engaged employees. Combined with the recent growth in the sector, employee ownership is proving its relevance as a model fit for unlocking the potential of people, businesses, and the economy.”
