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2. How ownership works: an insight into how employees own the business

3. Carole Leslie Ownership Associates UK

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5. Isabella Miller John Lewis Glasgow

6. How our Partners own the business Isabella Miller Head of Branch John Lewis Glasgow

7. Principle 1 7 Principle 1 of our Constitution states that 'The Partnership's ultimate purpose is the happiness of all its members, through their worthwhile and satisfying employment in a successful business. Because the Partnership is owned in trust for its members, they share the responsibilities of ownership as well as its rewards – profit, knowledge and power.'

8. How our Partners’ Voice is heard 8 Democracy Journalism Partner Survey

9. Democracy

10. Journalism

11. Partner Survey: Why is it important? 11 Partners can make their voice heard. Feedback to help shape the future of the business. Results from team to Partnership level. Partnership and divisional results are compared against the results of other organisations including major retailers.

12. What happens to the responses? 12 1. Partner completes survey responses online 2. Collate and analyse responses 3. Survey reports published at local, department, divisional and Partnership level 4. Engage Partners through local team and democracy meetings to develop action plans

13. Results this year 13 81% rate the Partnership as a great place to work 87% have access to the information they want Job satisfaction is 71% 88% say the Partnership respects cultural differences 92% value the range of benefits available 74% have confidence in the Partnership’s leadership

14. 14 We focussed on four themes in John Lewis

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16. Fred Bowden Woollard & Henry Ltd

17. Inspire EO Presentation Woollard and Henry Annual Turnover

18. Background Established in 1873, Woollard and Henry were a very traditional engineering company, supplying bespoke equipment for the paper industry. At the time of the employee buyout in 2002, Woollard and Henry employed 22 people and had a turnover of £0.9 million. Scotland still had 20 paper mills left in operation. With the Paper Industry being in dramatic decline and unable to secure a buyer, the workforce and Customers were informed that the company would be closing. Assisted by BPL, the option of Employee Ownership was taken.

19. Benefits Gained To-date In the past five years, over one third of the UK’s paper mills have closed and only four Paper Mills remain operational in Scotland. Despite these difficult conditions, Woollard and Henry have increased turnover from £0.9million to £6.5 million Moved from a loss making situation to generating a PBT of around 12% ( although less now with the downturn in Oil). We have been able to buy the 50% of shares from BPL, which are now held in a separate EBT. So 100% of the shareholding is in the hands of our Employees. Workforce has increased from 22 to 75.

20. Traditional Business that’s changing

23. People Aspects Flat structure Managers are on the shop floor and accessible Weekly meetings with all the workforce Daily meetings with Managers Quarterly review meetings with Managers Annual Strategy review Work very hard to communicate with people and attempt to bring them with us.

24. Benefits Gained To-date The company has changed significantly, which has been greatly assisted by the fact that we are Employee owned and can take a longer view. Our facility here in Aberdeen has been extended and we have invested in new CNC equipment. Opened a design and service centre in Germany and a new sales office in Manchester New Fabrication and Precision Machining facility have also been opened on in Turriff and Bytow (Poland) We have developed new products and secured patents for the Paper industry, whilst diversifying into the Energy sector. Resulting in only 20% of our turnover coming from the Traditional product offering.

25. Strategy Achievements People within the company understand the need to change and we have successfully developed new products for the Paper Industry. Expanding Cylinder MouldsAccuSteams

26. Strategy Future Further investment in our People, CNC machines and fabrication equipment. Maintain and grow our reputation as the preferred supplier of engineering solutions for the paper industry, taking advantage as the number of suppliers to this market declines. Develop our presence to preferred supplier status with key customers in the Energy Sector. Drive cost and productivity improvements throughout the business. Build upon our unique business model of Employee Ownership – staff commitment, loyalty and customer service. Projected target by 2019 is £10m from our sites in Scotland.

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28. Peta Hay Saxton Bampfylde

29. HOW OWNERSHIP WORKS AN INSIGHT INTO HOW EMPLOYEES OWN THE BUSINESS By Peta Hay Saxton Bampfylde

30. Established 1986 Global Executive Search & Assessment firm Chair / CEO / NED / C-suite Appointments across private, public & non- profit sectors, in-house assessment team £10m turnover Over 80 Partners UK based (Edinburgh, London, Guildford) with 14 international Partners ABOUT Saxton Bampfylde

31. Our Clients

32. OUR MISSION & VALUES “We exist to change the world by changing leaders in interesting and important organisations. At the same time we aim to create an environment wherein all members can grow to their fullest extent emotionally, intellectually and spiritually.”

33. Continuity for clients, partnersEBTs have strong record of sustainability vs. MBOs Maintains values, culture, quality & integrity Recognises partners role in helping build the business Failure to understand the business New owner strips out cost. People-led values, quality compromised Loss of freedom & long term control Why we became EMPLOYEE-OWNED

34. Employees as owners Partners feel empowered to have more say in the running of the firm Firm-wide Trustee election Regular financial updates shared All Partners receive audited Companies House accounts from CFO AGM

35. Employees as owners What we do is part of who we are. We strive to make our working lives full of learning, enjoyment and accomplishment.

36. Governance

37. Making it REAL

38. Changing behaviours PARTNERSHIP = MAKING A DIFFERENCE

39. Training & Development

40. WHAT IT MEANS to us

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42. Q & A

43. Thank You

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