Scott Bader Takes Part in UK National Employee Ownership Day
The first ever UK National Employee Ownership Day is scheduled to take place July 4 by the Department for Business Innovation and Skills (BIS), with campaigning by the Employee Ownership Association (EOA). The day, which also marks the first anniversary of the Nuttall Review of Employee Ownership, is for existing employee-owned businesses and associations to highlight the significant benefits employee ownership delivers to the UK economy, as well as to raise awareness with other UK businesses about the employee ownership model.
During national Employee Ownership Day, many EOA members across the country, including Scott Bader, will share and promote their achievements and the progress made since last year’s Employee Ownership Summit. Scott Bader has been a common trusteeship company for over 60 years and is an active member of the EOA. The chairman, Richard Stillwell, and group managing director, Philip Bruce, along with various Scott Bader Commonwealth board members and employees, regularly attend the EOA annual conference.
“Scott Bader is proud to be a founding member of the Employee Owners Association,” said Bruce. “All company shares were transferred to a trust in 1951 by the founder, Ernest Bader, which has enabled us to remain totally independent. This means that Scott Bader colleagues around the world share a common responsibility for sustaining and growing the company for the benefit of all employees. Through the Commonwealth Global Charity Fund, we also support local communities where we operate and annually distribute a share of our earnings to good causes. We are passionate believers in the success of Employee Ownership and are delighted to be a part of the Employee Ownership Association.”
Scott Bader has no external shareholders, with all shares held in common and in perpetuity by the commonwealth, which is a charitable trust. The culture and philosophy is that each generation of employees must ensure the organization’s long-term success for the benefit of future generations.