Angela @ EO Boost
Working in the background at JGA doesn’t mean Angela is not keeping up with what is going on at EO Boost
We asked Angela, Finance Director at JGA for her thoughts on day one of EO Boost
Why is the EOA annual event important to JGA?
Well it’s the one event in the year that enables a large number of businesses direct contact with JGA, to ask questions, explore what we offer and work out whether we’re the right support for them. On another level, it’s great to see others, find out how they are progressing on their journey and celebrate their successes.
It’s day one, which session have you most enjoyed today?
I found the Aardman story really interesting in the explorer session, listening to David Sproxton sharing how their journey has been and what was so important when considering selling the business. Although we supported their transition preparation and embedding their culture, I don’t get to be involved in that side of the business. It was great to see and hear more about what impact we have when we work with businesses.
What do you think about it being a virtual event this year?
I think we’re all missing the face to face chemistry and buzz of direct interaction, that’s 2020 in a nutshell. However this virtual event makes it more accessible and give delegates greater flexibility to attend sessions. You wouldn’t usually get to see this many sessions or advisers, it would be exhausting, so being able to catch up for up to a year is great. I also think it’s really helpful for the EOA to understand what their membership really need and tailor future support and content for the most benefit.
You’ve seen Jeremy preparing for EO Boost, how has this compared to previous years?
There has been a lot more preparation this year, with videos and recordings in advance, working out how to use the technology and co ordinate with the other contributors. As it’s an entirely new experience for us all, there’s also been a lot of work done anticipating things and planning so we’re all ready to manage the unpredictable things that could happen.
What are you looking forward to once EO Boost is over?
Firstly, being able to relax and have a little less screen time for a few days! Then I’m looking forward to being able to review JGA involvement in full and reflect on what we’ve learnt as individuals and a business. Finally I’ll check out if there are any sessions I didn’t see that would be good to catch up with.
Philippa Meaden @ EO Boost
Philippa really enjoys the annual Employee Ownership events, and this year is no different
Adrian Wheale @ EO Boost
Preparing to attend his first Employee Ownership Association event is exciting and a little bit daunting
EO Boost is a new approach using the virtual platform, what do you think?
I am excited and daunted by the EO Boost in equal measure. Excited because it is such a timely and dynamic thing that’s “right on the pulse” at the time of Covid lockdown. It’s turned a face to face problem into a digital solution and got even more traction because of it! Daunted because I am not a “silver-surfer”; my lack of digital awareness may come back and haunt me over the 3 days.
JGA are co sponsoring EO Boost, what do you think about this?
I am delighted that JGA are sponsoring the EO Boost as it goes to the heart of the matter of the virtual conference, the EOA itself and the JGA proposition. What more can I say?
Where will you be joining the sessions from and what will be accompanying you?
Physically I will be joining the sessions from my new “Zoom-Room” in my house in Bristol, emotionally from the perspective of the eager new-boy joining the JGA gang (in the hope of bringing something new and different to the party), whilst professionally I will be joining from succession planning, executive resourcing and balancing the board perspectives. I will be accompanied by a toolkit assembled in those areas (+ others) over 40 years; oh and a very naughty wire-haired Daschund called Joffy. Moreover I will bring the support and knowledge of the JGA team to keep me on the straight and narrow.
Which session are you most looking forward to attending and why?
I am looking forward most to the Riverford Session as the subject matter is of critical import and I am a Chartered Corporate Governor. Also I am also a great enthusiast of their produce and their Devon set up, we use the farm shop a lot. Plus, of course the Val King (The Rooflight Company) and Dave Sproxton (Aardman) pieces.... as both instructed me to find their replacements on standing down via EO, and I’ve got emotional skin in their game!
If there was one question you’d really like answered during EO Boost, what would it be?
Whether people admit it or not, Covid is a “once in a life-time” event that changes everything - economically, commercially and societally. We at JGA believe that EO is the perfect post-Covid vehicle to make the 2+2 of a company’s parts = 5! But how do we do that? How do we fuse the cultural/moral benefits with the new economic imperatives to optimise the values & value mix in this Brave New World?
Corrine Thomas @ EO Boost
Our coaching service lead explains what EO Boost means in the current climate
EO Boost is a new approach using the virtual platform, what do you think?
I’ve really enjoyed being at the EO conference over the last two years with JGA and meeting all the brilliant companies who are taking their businesses into employee ownership. I have been impressed by the commitment and passion of these businesses. I am excited that the conference is able to continue virtually this year as bringing this community together is always very inspiring.
JGA are co sponsoring EO Boost, what do you think about this?
I am very proud to be an associate with JGA and it’s fabulous to see that JGA is co-sponsoring EO Boost. JGA is committed to supporting the people who make up EO businesses and working with them as they move into employee ownership.
Where will you be joining the sessions from and what will be accompanying you?
I will be joining the sessions from home on my laptop where I will be accompanied by plenty of tea and coffee plus great views of the autumn trees from my window.
Which session are you most looking forward to attending and why?
I am looking forward to the sessions on what good employee ownership looks like for the individual, the business, and the economy. I think it is really important to understand these different perspectives and the real difference employee owned companies can bring to the economy.
If there was one question you’d really like answered during EO Boost, what would it be?
One question I would like answered during EO boost is how businesses considering transitioning into employee ownership can be supported to be ready for the transformation to their people, culture and ways of working.
Libby Unsworth @ EO Boost
Libby shares what EO Boost means to her
EO Boost is a new approach using the virtual platform, what do you think?
Well done to the EOA, this means we can still all meet up like we would for the conference.
JGA are co sponsoring EO Boost, what do you think about this?
JGA as considerable experience in helping companies make the most of employee ownership and we look forward to sharing this with those who are new to the sector and those who are already enjoying the benefits.
Where will you be joining the sessions from what will be accompanying you?
I will be at home (no surprise there), with my laptop and numerous cups of tea and coffee.
Which session are you most looking forward to attending and why?
Smile Together CIC session on ‘Creating a culture of employee ownership’. The right culture within a business is crucial to the success of employee ownership and any amount of sharing best practice will help others build on their own culture of success.
If there was one question you’d really like answered during EO Boost, what would it be?
In these difficult times, what would be the main ingredient that is essential in the employee ownership recipe for success?
Kathie Robb @ EO Boost
We asked Kathie about this year’s virtual event
EO Boost is a new approach using the virtual platform, what do you think?
I think it's an excellent idea in the circumstances, as it continues to keep EO high on the agenda and allows for all interested parties to gain the information and networking opportunities they need, despite the restrictions imposed by Covid.
JGA are co sponsoring EO Boost, what do you think about this?
JGA have a huge wealth of knowledge and experience across all the people and organisation aspects of employee ownership. By co-sponsoring it allows our name to be associated and highlighted across all the events and ensures our presence is felt across the EO community.
Where will you be joining the sessions from and what will be accompanying you?
I'll be joining from home with coffee and cake at the ready.
Which session are you most looking forward to attending and why?
I'm looking forward to it all, and it's hard to choose which sessions to attend, never mind which one I'm most looking forward to. But I think overall I'm looking forward to the EO explorer sessions because it will be good to hear from JGA and Postlethwaites about their experiences, thoughts, views and observations on all things EO, and to hear the sort of questions and challenges being put out there.
If there was one question you'd really like answered during EO Boost, what would it be?
From those that have made a recent transition to EO, what was the one thing they wished they knew then, that they know now?
Jeremy Gadd @ EO Boost
The main man shares some thoughts on this year’s Employee Ownership event
Why the UK needs an EO Boost right now
JGA - 5 reasons why the UK needs employee ownership
This week, Deb Oxley OBE, CEO of the Employee Ownership Association shared in her blog 5 reasons why the UK needs an EO Boost. Here’s our thoughts on the 5 reasons and things to consider.
Succession
The UK has a generation of businesses whose founders and owners have seen the best and worst of times. The impact on them and their teams has shaped their views on what would be suitable options for their departure. Experience has taught them that the stability and security for employees and the dependent local communities is often stripped away when trade sales and buy outs are completed. EO Boost plays a significant role in spreading the word and ensuring this group of entrepreneurs understand the EO options available. Boost has specific content for explorers and is the ideal place to connect with specialist advisers, hear about best practice and network with other EO organisations.
Growth
Interest in employee ownership has been growing, and since the 2014 Finance Act the popularity of this business model has expanded considerably. In the year to June 2020 there was a 28% growth in the number of employee owned businesses, with the last year reporting operating profit up 5% and productivity up almost 7%. The overall growth in EO businesses has been 50% since 2017, and with a number of conversions announced this year it looks like it could be an continuing upward trend. EO Boost provides the opportunity to hear from those who have already made the transition about the positive impact it has made on their businesses and it’s ongoing success.
Resilience
There’s been a lot of turbulence recently, and not much sign of it getting better in the short term. On the whole, EO organisations take a longer term view, with a focus on the sustainability of business for future generations rather than only the benefit for the current few. This generally means that there is greater financial resilience, providing healthier balance sheets as the focus is not on short term stakeholder dividends. Employees also have a greater understanding of the overall business situation, strengths and opportunities, providing a wealth of ideas and insight to support organisations through the times when the market is rough.
Employee Engagement
Quite simply, we believe that EO is about everyone in your organisation being a co owner. Whatever the EO model, there are responsibilities, opportunities and rewards as co owners. Leaders have a role in ensuring information and support is available for all co owners to truly understand their business. All employees should be able to identify their responsibilities to the business, and the rewards they receive as a result of the businesses ongoing success. With EO the opportunities to influence, challenge and collaborate are greater, which enables greater levels of employee engagement.
Independence
This is two fold for us. Firstly, the governance structure within EO businesses bring a greater level of independence, with trustees having oversight and seeking assurances for the long term business stability. Effective independent trustees bring skills and expertise to any trust board and strengthen the business resilience.
Secondly, many businesses seek to maintain what keeps them ‘special’, especially when the founders or owners move on. When preparing for an transition to EO, owners often speak about wanting to preserve what makes them different, and to retain the unique character of their business. They don’t want to be swallowed up by bigger names or be seen as adjusting to the corporate norms, they want their businesses to continue being different and delivering their purpose - and employee ownership offers the opportunity to preserve that for years to come.
