TensCare Ltd is now an Employee Owned Business with the majority of shares being held for the benefit of all TensCare Ltd employees in a Trust.
It has been found that companies that have an Employee Own Trust structure experience higher levels of customer satisfaction, increased productivity, increased profitability and employee retention. All of these benefits are equally important to our New Managing Director: Neil Wright.
Neil, who orchestrated the change of ownership with the help of private equity and legal advice from Postlethwaite solicitors (Specialists in Employee Ownership affairs) said; ‘This is a significant milestone in TensCare’s journey as a business. The new ownership structure is a positive alternative to more traditional ownership models and offers real advantages to both the employees and the prosperity of the business.’
The trust gives staff a voice in how they think the business can be managed for the benefit of all and the Trustees are there to listen to staff insights and recommendations as well as form their own opinions on supporting the Board of our business TensCare Ltd.
Charlotte Smith who has been the Accounts Manager for 9 years with TensCare and is now the newly appointed Finance Director said: ‘It is a very exciting time for all our team, there are real gains to be made to creating a cultural norm of transparency of how the business is performing and recognising the voice of engaged employee representation within the business.’’
Lisa Slavova who had previously been TensCare Ltd’s Export Manager has been appointed to Sales Director.
Movina Dias, Andrew Brown and Charlotte Smith have been elected by the Tenscare staff to be the Trustees to manage the TensCare Trust (The majority shareholder of TensCare Ltd).
The leadership of TensCare Ltd now has a dynamic commercial executive board who will meet the needs of our customers and as in any business be answerable to the owners.
Employee owned businesses in the UK contribute over £30 Billion to the UK economy every year so it is based on strong commercial success. John Lewis perhaps being the best known Employee Owned business in the UK.
To know more about the TensCare team and Employee Ownership click here.