Proud to be Employee Owned – a personal perspective
June 2024, by MM-Eye
Today is Employee Ownership Day, when companies across many sectors in the UK celebrate and showcase the benefits of being employee-owned. Here at MM-Eye, we are incredibly proud to be a member of the growing employee-owned business community and want to mark today by reflecting on the benefits and impacts of being partners in a business we collectively own.
MM-Eye became 100% employee-owned in January 2023. At the time, we were all excited about the transition and what this would mean for our business and for us individually. Now, we are 18 months into this new chapter for MM-Eye, and we are proud of the culture of empowerment and ownership which is embedded in our business. Along with our B Corp certification, which we secured in September 2023, we feel our employee-owned status reflects our values here at MM-Eye of being empowered, being supportive and acting with integrity.
But how does it really feel to be an employee-owner? How different is it from being just an employee?
Our colleague Katie joined MM-Eye 9 months ago, coming from a large company. Her recent experiences here at MM-Eye give great insight into the benefits of working in an employee-owned business to the individual.
Katie says ‘Since joining MM-Eye and becoming a partner in an employee-owned company, I can confidently say the experience is incredibly rewarding compared to working for a large limited company.’
Picking up on the sense of ownership and motivation this brings, Katie goes on to say, ‘Here at MM-Eye, we all have a direct stake in the success of the business, which encourages joint responsibility and collaboration. I’ve always been motivated by a job well done, and this is now even more apparent. Knowing that my efforts directly impact the company’s performance motivates me to go the extra mile.’
Katie’s sense of empowerment as an employee-owner shines through when she says ‘Unlike in a large limited company, where decisions are made by a distant board of directors, we have a say in major decisions, which has increased my sense of belonging and pride for the company.’
Reflecting on the supporting culture here at MM-Eye and opportunities for personal development, Katie concludes, ‘We are a close-knit workforce, and we are all working towards a common goal and really support each other. In my 9 months at MM-Eye, I have been involved in so many different areas of the business that I would never have had the chance to be part of previously. My knowledge has grown, and the experience has been eye-opening, rewarding, challenging, but most of all, fulfilling. I am so pleased I made the move.’
According to the Employee Owners Association, the number of employee-owned businesses in the UK is growing exponentially, with over 1,700 in the last count. Research shows that the EO sector punches well above its weight across multiple dimensions of impact for employees, communities, and the wider economy. Our own experience as a business and as individuals supports this. If you think employee ownership could be the right path for your business, we would be very happy to share our experiences.