The best customer service, highly engaged staff and a long-term commitment to success. Sound good?
It sounded great to us, which is why Hi-Level Mezzanines is proud to announce that we are now owned by our staff.
We became an Employee Ownership Trust (EOT) a year ago, keeping the same Senior Management Team in place.
We’ve delayed making our news public until today so we could reassure all our clients and suppliers that it has been business as usual, with no change to normal operations.
Looking ahead we see many benefits, however.
An employee-owned business is owned by its staff, for the benefit of all.
Best service
With all employees being more invested in the company, suppliers and customers will find us driven to improve our product range and offer the best service levels we can. We will also be keeping our prices competitive because everyone has a stake in our financial performance.
Managing Director Angus Whiteman says: “Having been established for over 30 years the move to an EOT is an exciting new chapter for Hi-Level Mezzanines. The EOT is a fantastic opportunity for the whole team to secure the future of the business. It provides benefits to both the company and our staff with higher productivity, better morale and a true sense of ownership among all employees.”
Sales Director Chris Baxter adds: “Having been part of the Hi-Level team for over 25 years I am extremely proud to see the business become an Employee Ownership Trust. We have an amazing group of talented employees and whether they have been part of the team for one or many years this is a great opportunity for us all to take ownership of the company’s future.”
Values and independence
Employee ownership protects our values and ensures the independence of Hi-Level Mezzanines, making it impossible for the business to be sold to investors motivated only by short-term interests.
This is important to us because our employees already take the long-term view: 42% of staff have been with us for more than 10 years and 30% of staff have been here for at least 20 years.
There are several types of employee ownership and at Hi-Level Mezzanines we have opted for a trust model, where shares are held in trust for all staff equally rather than distributed to individuals. The idea is that everyone contributes to success and everyone benefits.
What is employee ownership?
Quite simply, a company is owned by its staff. There are several well-known examples in the retail industry , while in the construction industry there are Readie Group, Lindum Group and Briggs & Forrester.
It is a growing movement. In the UK there are more than 1,400 employee-owned businesses. The number has risen 37% in the past year, with 332 more companies taking the plunge in 2022 alone.
Benefits are a deeper level of pride, ownership and commitment among employees. This can lead to higher productivity, greater resilience, higher morale and lower attrition.
According to the Employee Ownership Association: “Companies tend to be more successful, competitive, profitable and sustainable. Because they’re co-owners, staff tend to be more entrepreneurial and committed to the company and its success. Because they have high employment standards, involve staff and give everyone a stake, employee-owned businesses are better at recruiting and retaining talented, committed staff.”
So please join us in spirit as we celebrate our first anniversary as an EOT. Here’s to the future!
