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Employee Ownership Explained

Nightingales decided some time ago that a better way to do business was to share the rewards of ownership with those who make our service what it is – our employees. We believe that everyone wins when those most involved have a stake in the outcome.

Here’s how we are making that happen:

Employee Ownership Journey
Our journey towards employee ownership began in 2014 and came to fruition in 2021. We now set aside 20% of the company under a Hybrid Employee Ownership Scheme, which benefits all our employees through an annual Partners Bonus.

The Partners Bonus
Every year, the Partners Bonus is shared among our employees, based on how much they have contributed since the scheme began. This bonus is equivalent to 25% of any dividends paid on the original Founder Shares of the company. The amount each employee receives is based on their cumulative earnings since the start of the scheme in 2014.

Benefits of Employee Ownership
Research and our own experience show that employee-owned companies not only provide a happier and more resilient workplace but also result in more satisfied customers. This is because when employees think and act like owners, the level of service they provide and their job satisfaction increases, creating a mutually beneficial situation for everyone involved.

Direct Employee Ownership
We’re now entering a second stage of employee ownership, offering our seasoned employees (those with us for more than three years) the opportunity to buy Partner Shares directly. These shares carry similar benefits to the Founder Shares but are available at a 66% discount. Payable over three years via their Partners Bonus, we hope that by making it easy to buy in, an additional 7.5% of Nightingales’ value will be transferred to our employees.

Customer Satisfaction
We believe this is important for our customers too. When you choose to rely on Nightingales, you’re not just dealing with employees but with individuals who are invested in Nightingales’ success. Our employees understand that the satisfaction they derive from their roles, and ultimately the financial rewards they receive, are intimately connected to our customers’ happiness. We believe this not only boosts the morale and well-being of our employees but also translates into higher levels of service. The result is a win-win situation for our employees, our customers, and Nightingales as a whole.

Frequently asked questions

What is employee ownership?

Employee ownership is a type of business ownership where the employees own a significant portion of the company. This can be done through a variety of methods, such as employee stock ownership plans (ESOPs), employee ownership trusts (EOTs), or outright ownership of the company by the employees.

What are the benefits of employee ownership for employees?

There are many benefits of employee ownership for employees, including:

  • Financial rewards: Employees who own a portion of the company can benefit from profit sharing, dividends, and capital appreciation.
  • Increased job security: Employee-owned businesses are more likely to survive economic downturns, as employees have a vested interest in the success of the company.
  • Greater decision-making power: Employees who own a portion of the company have a greater say in how the company is run.
  • Improved morale and productivity: Employee-owned businesses often have higher morale and productivity than non-employee-owned businesses.
What are the benefits of employee ownership for employers?

There are also benefits of employee ownership for employers, including:

  • Increased employee engagement: Employees who feel like they have a stake in the company are more likely to be engaged and productive.
  • Reduced turnover: Employee-owned businesses often have lower turnover rates than non-employee-owned businesses.
  • Improved recruitment and retention: Employee ownership can be a valuable recruitment and retention tool.
  • Enhanced corporate social responsibility: Employee-owned businesses are often more socially responsible than non-employee-owned businesses.
How does Priors Mead implement employee ownership?

Priors Mead is in the process of transitioning to employee ownership. This means that employees will eventually own a percentage stake in the company. The company is currently offering an employee share ownership plan (ESOP) to its employees. The ESOP allows employees to buy shares in the company on a discounted basis.

What are the opportunities for employees who work at Priors Mead?

Employees who work at Priors Mead have the opportunity to be part of a growing and successful company. They also have the opportunity to participate in the company’s employee ownership program and benefit from the financial rewards that come with it. In addition, employees who work at Priors Mead have the opportunity to make a real and positive difference in the lives of others.

Want to know more?

Feel free to give us a call on 01737 224334. We’ll happily answer any questions you might have about our transition to employee ownership.

Call us on 020 8466 9664 for more information

Tenniece Williams, Registered Manager

Tenniece Williams
Registered Manager

Holly Englefield, Operations Manager

Holly Englefield
Operations Manager

Adrienne Tooke, Administration Director

Adrienne Tooke
Administration Director

Liam Tracey, CEO

Liam Tracey

This website is a brief introduction to what we do, and how we do it. If you’d like to know more, or have any questions, call us on 01737 224334. We’ll be happy to help your thinking by sharing our considerable knowledge and expertise without obligation.

If you are considering homecare as one of your options, we can help there too as we have an extensive homecare practice.