As one of the first and largest new public sector mutuals, with shares allocated to managers and staff, Prospects is well placed to advise public sector employers on mutualising services.
Prospects Mutuals Service
Research for the Cabinet Office shows an increasing number of health employers, local authorities, Whitehall departments and other public sector employers acknowledging the benefits – in terms of savings, innovation, staff engagement and service quality – of spinning out services as employee owned, mutual businesses.
According to Boston Consulting Group, approaching £1.4bn in public sector contracts is now being delivered by such public service mutuals, which together employ around 40,000 people.
Prospects – expert advice and guidance on mutualising services
A powerful combination of factors makes Prospects an ideal partner when it comes to considering or planning a public service mutual – spin-outs from the public sector with an employee ownership stake.
- Extensive experience in achieving cost reduction, enhanced efficiency and innovation in the delivery of public sector services.
- Consultancy advice on mutualisation delivered to a range of public sector clients.
- A one-stop service including advice, consultancy, partnership, joint ventures and outsourcing. Alternatively elements of our service can be individually selected.
- As an £80m business, and a former spin-out from the public sector, we understand the challenges of growing a successful business from public service origins.
- As an employee owned, private sector mutual providing public services we know exactly what it takes to make the transition to mutual status.
- We have handled the transition of thousands of staff from the public to the private sector since 1996, turning a succession of public services into successful, profitable businesses.
Patrick Burns, Director of Mutuals Development for Prospects, heads the Prospects mutuals team and is one of the Cabinet Office's 'mutuals ambassadors'. Patrick was previously Chief Executive of the Employee Ownership Association and a member of the Coalition Government's Mutuals Taskforce. He is a Director of an employee ownership investment fund, and Chairs the shareholder council of an employee owned social care group.
Employee Ownership Association
Prospects is proud to be an Employee Ownership Association (EOA) approved specialist adviser on mutuals.
Prospects is a trustee member of EOA, a network of more than 200 companies with significant employee ownership, a UK sector worth over £30 billion annually.