Essential Recruitment became 100% Employee Owned in December 2021.
One year later, we just celebrated our first company-wide profit distribution, years earlier than expected!
Managing Director, Marc said in an email to all Employee Owners:
“As we are all acutely aware, we live in troubled times with everyone’s finances being hit, both as individuals and the businesses we work in.
Your business is no exception to this. Costs are rising and our client base are continuously cautious, and that’s without mentioning the labour shortage.
However, as a team we have worked very hard over the last 12 months since becoming Employee Owned to make the best of the current climate and keep our reputation intact. To that end, it has meant that we have met all of our financial obligations and retained a profit.
So, with the approval of the Trustees we have decided to pay a profit distribution to all Employee Owners in December’s pay. As this is utilising the benefits of Employee Ownership it will not be subject to any income tax and just a small amount of NI.
As you all know, An EO is a colleague who has been employed for more than 1 year and for the purpose of this payment it would be 1 year on the 30/12/22. There are 8 of our colleagues who will not qualify which is unavoidable due to the strict rules, but hopefully they will see what the future can hold by sticking with Essential. So that they do not completely miss out and as a thankyou from the whole team, they will all receive a Christmas bonus in their net pay this December to help pay for a few extras to make this Christmas a bit more joyful.
The opportunities for this business and you as EO’s are endless if you all pull together, keep driving the growth and delivering the service we are known for.”
Recruitment Consultant, Lucy from Worksop said the result “has made a perfect end to the year” and Senior Consultant, Paula from Ripley shared that “this has made the Ripley branch buzz”
We’ll be finishing for the Christmas break at 2pm on the 23rd December, but as always we’re always available via our on-call service.
