Employee ownership and the benefits it can bring to businesses and the local economy are increasingly at the fore. We looked at the largest employee-owned Trust in Northern Ireland, Newry-based S&W Wholesale, to better understand why this business model is so successful
Switching to employee ownership has resulted in no visible difference in the day-to-day running of the business, but the benefits for employees have been notable.
“When the company does well, the employees, as beneficiaries, will do well. The nature of the structure allows for incentives such as tax-free bonuses and other inducements as the business model continues to mature,” Michael Skelton, chief executive, S&W Wholesale says.
As such, employees feel more invested in their roles, and more valued. And this not only positively affects employee retention, but productivity, too.
S&W is both the largest and one of the oldest companies to become an employee-owned trust. With 108 years in business, implementing this new model brought assurance to stakeholders that the future of the business would be secure.
“We have…
