South Lakes property, legal, and financial advice specialists Poole Townsend has become employee owned.
The Government introduced employee-owned governance styles in 2014 to encourage shareholders to facilitate wider employee ownership similar to the John Lewis model.
Under the new structure, Poole Townsend move from a board of four to seven directors with wider team representation across the business, aligning with their ongoing commitment to empower its workforce and enhance the quality of service for clients.
New managing director of property Brad Pearce said: “Our clients have always been at the heart of what we do across our portfolio of services. Transferring ownership to our employees who live in the communities we serve, ensures Poole Townsend stays true to its values, providing exceptional service across property sales, legal and financial advice, and building lasting relationships with our clients and their families.”
Employee ownership is gaining popularity in the UK with over 1,600 businesses adopting this model to drive growth, long-term resilience and engagement, a rise of 37% across last year.
Research shows there are many benefits for employees, the business and the wider community with higher employee satisfaction, a better work-life balance, increased investment in training, skills and job development, workforce expansion, improved wages and a share in profits.
Brad added: “Moving to employee ownership is the culmination of years of hard work and dedication by our team. The change in structure ensures the future of the business is in the hands of those who know it best, our employees, safeguarding the values and culture that have made Poole Townsend a trusted name throughout the South Lakes and Furness.”
Founded in 1993, Poole Townsend has over 90 team members in five offices across South Cumbria and the Furness Peninsula.
