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Our clients said: “I must congratulate your team on how brilliant they are at customer service. A wonderful thing today!” * We always put our clients’ unique needs first - which is why they say our service is a wonderful thing. To find out how our banking, investment and fiduciary solutions can meet your specific wealth management needs, visit our website at www.nedbankprivatewealth.com or call us on 01534 887889. *Quote from a client - April 2015. UNITED KINGDOM | ISLE OF MAN | JERSEY | UNITED ARAB EMIRATES | SOUTH AFRICA Nedbank Private Wealth is a registered trade name of Nedbank Private Wealth Limited. Nedbank Private Wealth Limited is licensed by the Isle of Man Financial Services Authority. Registered office: St Mary’s Court 20 Hill Street Douglas Isle of Man. The Jersey branch of Nedbank Private Wealth Limited is regulated by the Jersey Financial Services Commission. The Jersey branch registered address is: 31 The Esplanade St Helier Jersey. Nedgroup Trust (Jersey) Limited is regulated by the Jersey Financial Services Commission.
Business Share and share alike When it comes to job satisfaction, employee engagement and increased productivity, does it pay for your staff to own your company? Words: Ben Jordan I RECENTLY PICKED up a copy of Atlas Shrugged by Ayn Rand after it was referenced in HBO’s Mad Men. In Rand’s bleak industrial world, the catalyst for change comes from an elite group of innovators. Unfortunately, they have all mysteriously vanished. Without the great Captains of Industry, society is leaderless and falls into economic decline. The book makes the case for a hierarchical society governed by self-interest and the pursuit of profit. Amazing the things you can learn from chilling and watching Netflix. Society is egocentric. We like to attribute success to extraordinary leaders who, through some Faustian pact with the dark forces, make it big. Henry Ford’s self-assembly model for manufacturing affordable cars for the mass market was used as a blueprint for such giants as McDonald’s and Apple. Successful companies in 2016, however, seldom have one private owner at the top of a pyramid. Increasingly, companies co-own their business with their employees and give them a broader participation in the profits. Back in 1991, Starbucks launched Bean Stock, an employee partnership programme that rewarded all eligible employees in addition to their normal salary. It created a culture where everyone had a vested interest in the financial success of the business. It increased productivity and staff retention from the bottom up. Long before that, John Spedan Lewis decided from the outset that he would share the ownership of his company with the employees. Every member of staff would be a partner and have a voice in how the business was run. Today, the John Lewis Partnership is the largest employee-owned business in the UK. ALL FOR ONE According to the latest figures, more than 300 UK companies are fully owned by their staff and at least the same again are majority-owned by their workers. Between them, they employ 250,000 people. There’s little wonder, when the Employee Ownership Association’s (EOA) 2015 report reveals that the top 50 employeeowned companies had combined annual sales of £21.5bn (about two per cent of the UK’s GDP). They enjoyed an average sales increase of 4.6 per cent year on year combined with a very respectable 3.4 per cent increase in operating profit. The same companies have also reported an average increase of employees of 4.3 per cent. And according to the National Bureau of Economic Research, employee-owned companies consistently outperform the FTSE All-Share Index. All of this comes as no surprise to Duncan Langston, Director of Waitrose, 48 January/february 2016 www.blglobal.co.uk
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Page 60 and 61: Technology There’s been much talk
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