HR Essentials Ltd, trading as Essential Recruitment, has sold 100% of their shares to HR Essentials Trust, making the business wholly owned by its employees.
With offices in the East Midlands and South Yorkshire, the 50 employees will now share in the future success of the business.
The owner directors of the recruitment business – Marc Orli, Kristyan Rachael, Lisa Smith, Alison Wilby, Gary Wilson and Carl Wootton – sold their shares for an undisclosed sum.
With the exception of Gary Wilson, who will step down from his role as chairman, the directors will remain with the business and work with the Employee Trust to help grow the company, and implement a succession plan for the long-term future of all its employees.
A statement provided on behalf of the directors said: “Our vision since starting in 2006 was to build a business that not only cared for its clients and candidates but also to provide a company that provided its colleagues a positive environment in which they could thrive.
“Over the last 15 years, we have done our utmost to stand by this vision. During the last 2 years of uncertainty, it has been the team as a whole that has stood true to our culture, so what better way to reward all those involved than to become Employee Owned.”
Deb Oxley, Chief Executive of the Employee Ownership Association, said: “Congratulations to Essential Recruitment on its transition to employee ownership, securing the ethos, values and culture of the business for the longer term.
“Businesses that are all about people benefit greatly from empowering employees by giving them a stake and a say, with impacts for the employees and the business, which is also felt by clients and the communities the business serves.”