EXCLUSIVE: Postcode Anywhere has launched an employee ownership trust.
The Worcester-based software business is now 100% owned by its employees following its two founders, Jamie Turner and Guy Mucklow (both pictured) implementing an enterprise management incentive scheme (EMI) to give all Postcode Anywhere employees the opportunity to own a share of up to 10% of the business.
They also decided to become employee owned in order to recognise the significant contribution that their colleagues made to the value of the business and to also create a culture where everyone can benefit from their future success.
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Mucklow and Turner hope to grow the organisation’s revenue by 50% over the next five years with the help of Triggar, a big data and analytics platform the firm will be releasing in the next few months.
Guy Mucklow, chief executive officer and co-founder of Postcode Anywhere, said: “The ability to attract and retain talented people is one of the most significant reasons behind the success of a software company like Postcode Anywhere. It’s the difference between us being an average organisation or one that is constantly pushing the boundaries and challenging the way that our industry works.
“Both Jamie and I are very keen to ensure that we have the best talent and that we do our utmost to share our success. As a shareholder in the organisation, I am also hoping that my colleagues will treat the business like it’s their own and very much feel as though they are invested in its future.
“Business owners have a level of passion and commitment to their businesses which is hard to find in other types of enterprise. This connection to the business is why employee-owned enterprises have faster growth rates, happier customers and are ultimately more profitable than those which are not.”
“The key for us is to create an environment in which everyone feels and behaves as if they are owners of the business and, as such, can share in the growth in its capital value unlike an employee who just takes an income whilst creating wealth for others.
“In turn employees will be likely to start treating the business like it’s their own, buying into the vision of the organisation’s future, aligning passion with success; as ultimately the success of the organisation will provide a very meaningful impact on the individual’s future.
I don’t want to take my staff for granted, and one of the reasons why we decided to become employee owned is because there’s a certain level of passion, desire, drive, ambition and hunger that you get from founders that isn’t often seen in people that are just working for the business. I want to spread some of that energy and see some of those qualities in other members of my team.”