Strategic Workforce Solutions Group Ltd (SWS) has become an Employee-Owned Business.
Under the new structure, companies forming the SWS Group, including The Best Connection Group, Bailey Employment Services, Backline Logistics, Backline Logistic Support Services, Fleetmaster Group, City Transport Solutions, The People Co and The People Co Inc, have become part of the new Employee-Owned Trust, SWS Trustee Limited, that holds the SWS shares for all beneficiaries.
Employee Ownership Trusts were first introduced by the UK Government in 2014 to encourage employee ownership. The model gives owners who are looking for a succession plan that can offer stability and continuity a vehicle to transfer their shares to an EOT that gives employees a controlling interest in the business.
“We are very excited to take the business to the next stage in its transformative journey by moving to an employee ownership model,” said Neil Yorke, Co-founder and Director, SWS Group. “This decision will benefit all employees in the long term and recognises the contribution our employees have made to the business across all our brands over the years. We are proud to be part of a growing list of over 1650 companies that have embraced this concept and we are looking forward to experiencing the benefits this will deliver.”
The decision to move to a new business structure was underpinned by the desire to maintain the Group’s independence and to recognise the hard work and commitment of its employees. The Founders will remain involved to guide the business strategy.
“The Employee-Owned Trust model will give employees a sense of ownership, responsibility, and pride in their work, ultimately driving enhanced performance, innovation, and collaboration. Through this structure, employees will have a direct say in the company’s decision-making processes, ensuring that their voices are heard and respected,” said Yorke.
