On December 3, the owners of Essential Recruitment sold 100% of their shares for an undisclosed sum to the HR Essentials employee trust. This transition means the company, whose head office is located in Chesterfield, is wholly owned by its 50 employees.
A statement provided on behalf of the directors said: “Our vision since starting in 2006 was to build a business that not only cared for its clients and candidates but also to provide a company that provided its colleagues a positive environment in which they could thrive.
“Over the last 15 years, we have done our utmost to stand by this vision. During the last two years of uncertainty, it has been the team as a whole that has stood true to our culture, so what better way to reward all those involved than to become employee owned.”
Essential Recruitment directors Marc Orli, Kristyan Rachael, Lisa Smith, Alison Wilby, Gary Wilson and Carl Wootton all sold their shares. With the exception of Mr Wilson, who will step down as chairman, they will remain with the business, helping the employee trust to grow the company and implement a succession plan for the long-term future of all employees.
Deb Oxley, chief executive of the Employee Ownership Association, said: “Congratulations to Essential Recruitment on its transition to employee ownership, securing the ethos, values and culture of the business for the longer term.
“Businesses that are all about people benefit greatly from empowering employees by giving them a stake and a say.”