Prospects is an employee owned company.
Across the UK the employee owned business sector growing. Many companies, including Prospects, find they are more successful, competitive, profitable and sustainable. This is because those who work for the company own the business and share in its success. Colleagues at Prospects are encouraged to be innovative and entrepreneurial buying into our company and our success.
We were one of the first and largest public sector mutuals. Currently more than 800 employees and past employees are shareholders in Prospects, with all current colleagues having a stake in our future through the Employee Trust.
All employees are represented by colleagues who form the Employee Council. The employee council provides a link to the Board, executive leadership team, managers and employees. The Employee Council members consult colleagues regularly across the business and act as the employee voice sharing colleagues’ views to help shape the direction of the company.
17 council members volunteered to establish the first council in 2015.
On a day to day basis the council members work to improve how colleagues engage as employees with the company, making Prospects a better place to work and people happier at work. They aim to encourage teams across Prospects to share ideas and skills to enable Prospects to deliver better, more coordinated services. The council protect and promote the company’s values and help influence the overall company vision to reflect employees’ aims.
Prospects Employee Council Members
Alona De Havilland
Prospects is the 13th largest employed owned business in the UK and is proud to be a trustee member of the Employee Ownership Association, a network of more than 200 companies with significant employee ownership. As a sector the employee owned industry accounts for 4% of GDP contributing £30 billion annually.
The benefits of being employee owned to our and other businesses are we achieve higher productivity and greater levels of innovation and are more sustainable and resilient to economic turbulence. Additionally employee owned companies have more engaged, more fulfilled and less stressed workforces.
Successive governments have promoted employee ownership because they recognise its potential contribution to the economy. As a sector employee ownership adds to the diversity of Britain’s economy by offering a vibrant and different model for achieving business success.
Prospects has successfully supported other businesses to become employee owned, including 3BM. Find out how Prospects can advise you if you are considering employee ownership.