At CRO, we are committed to providing professional, fast, effective, and stress-free services to lawyers and accountants by providing information services, company registration and company secretarial services. We take great pride in exceeding our clients’ expectations and offering comprehensive solutions to their business needs, and we are now delighted to share some exciting news with you. CRO has recently transitioned into Employee Ownership following the establishment of an Employee Ownership Trust (EOT), making our team members beneficial owners of the company.
In this blog, we’ll explore the fantastic benefits this brings our company, its dedicated employees, and of course, our clients.
What is an Employee Ownership Trust?
An Employee Ownership Trust is a legal structure that allows employees to benefit from the future success of their company. In our case, the EOT reorganises the ownership of CRO, creating a single ownership entity that holds a controlling stake on behalf of our employees. This means that CRO is now owned by the EOT, and our employees are the true beneficiaries.
However, the benefits of an EOT extend beyond our employees. This structure ensures the future security and stability of our business. It aligns the interests of our employees and previous shareholders, creating a harmonious working environment focused on long-term success.
The Benefits of an Employee Ownership Trust
There are several benefits of an EOT for CRO as a company, our employees, and our clients; let’s take a look:
- Retention and Motivation of Employees. By involving employees in the company’s ownership structure, an EOT can incentivise and motivate them to perform at their highest potential, leading to increased loyalty and lower staff turnover rates.
- Increased Productivity and Innovation. Research has shown that employee-owned companies tend to have higher levels of productivity and innovation. When employees have a stake in the organisation’s success, they are more likely to contribute their ideas, skills, and creativity to drive the company forward.
- Smooth Succession Planning. An EOT can provide a viable succession planning solution for business owners looking to retire or exit the company. By selling the company to the EOT, the owners can ensure the business’s long-term sustainability and future success while also securing a fair value for their shares.
CRO’s Journey to Becoming an Employee Ownership Trust
The decision to transition to an Employee Ownership Trust was born out of our desire to reward our hardworking team members while ensuring the values and standard of service at CRO remain consistent.
After recently celebrating 30 years in business, we wanted to embrace the EOT structure and make our employees true stakeholders in the future success of CRO. This transition cements the long-term future of our business, providing our clients with the confidence that they will continue to receive the highest level of service.
Ensuring a Smooth Transition for Our Valued Clients
We understand that transparency and seamless transitions are crucial for our valued clients. Rest assured, it is business as usual; your experience and continuity of service remain our top priorities. The transition to an EOT does not disrupt our commitment to delivering prompt, accurate, and reliable information services, company registrations and secretarial services. Our dedicated team is working tirelessly to ensure that all processes and systems are seamlessly aligned to provide uninterrupted support for our clients. Indeed, the outgoing principal shareholders will remain on the Board of CRO, further ensuring continuity for our clients.
The transition to an EOT allows us to further enhance the client experience at CRO. Our team members, now direct stakeholders, are highly motivated to provide exceptional service, ensuring your complete satisfaction. We take pride in our responsiveness, attention to detail, and commitment to meeting deadlines. With our new employee ownership structure, our dedication to excellence will only strengthen, leading to an even more gratifying client experience.
Looking Towards the Future
Becoming an EOT is a significant milestone for CRO, signalling our dedication to our employees and clients alike. We are excited about the opportunities this new structure brings and its positive impact on the company. Our team members are enthusiastic and fully committed to upholding our high standards, continuously improving our services, and surpassing your expectations.
We are incredibly grateful for the trust and support you have shown us as a client. However, if you have any questions or concerns about our transition to an EOT, please do not hesitate to contact us; we’re here to address any queries, ensuring complete clarity and peace of mind.
Thank you for your continued partnership and for allowing us the opportunity to help you. We look forward to building an even stronger future together as we embark on this exciting new chapter as an Employee Ownership Trust.