Care Plus Group is pleased to announce they feature in the Employee Ownership Association’s (EOA) 2018 Top 50 Report as one of the fifty largest employee-owned companies in the UK, ranking at number 26 in the top 50 nationally.
The Top 50 list, complied by RM2 in partnership with the EOA, covers independent UK-registered companies that are at least 25% owned by their employees on a broad basis and UK subsidiaries of non-UK companies that are more than 75% employee owned.
The findings from the list show positive growth for the employee ownership sector, with a combined sales value of nearly £20bn, five new entries to the Top 50 and an almost 10% median increase in operating profits.
Nigel Mason, Director of the RM2 Partnership said:
“It’s been a challenging year for UK businesses, especially for those on the high street, but total sales for companies on this year’s Top 50 list are up 6.5% on a like-for-like* basis – a figure that shows resilience and sustained high growth in the employee owned sector.
“More than 250 businesses including Aardman Animations and Riverford Organic Farmers have transitioned to an EOT since 2014, many of them below the Top 50, which has helped the sector diversify in size. As more businesses realise the benefits of this business model and as we continue our conversations with government about support for employee ownership, we are very confident that the sector will continue to grow.”
The top findings from the report include:
– £19.8bn combined sales of Top 50 employee-owned companies (up 6.5% on like-for-like basis)
– 9.2% median increase in operation profits
– 7.3% increase in productivity year-on-year (Compared to UK productivity which fell by 0.1% Q1 2017 to Q1 2018)
– 171,000 combined employees (down 1% on a like-for-like basis)
– 54% of companies with no net debt
Jane Miller, Chief Executive of Care Plus Group said:
“I’m delighted Care Plus Group has been named number 26 out of 50 in the Top 50 Employee Owned organisations in the UK in 2018. This is a significant achievement for us to be ranked so highly nationally.
“We were established as a 100% employee owned organisation from inception in 2011 and since then we have found that the involvement of staff in the development of the organisation has seen some fantastic improvements and innovations take place as well as helping us deliver superior business performance.
“As co-owners, staff are highly engaged and committed to our organisation and this shows in the consistently high “Friends and Family” test results, with recent results showing over 93% of staff are “likely” or “extremely likely” to recommend CPG as an organisation to receive care.”
The employee-owned sector counts for over £30 billion contribution to UK GDP and is growing by a rate of 10% a year. Despite this, the sector’s profile is comparatively low and its potential contribution to the economy is under-exploited as a result.
To view the full findings of the Employee Ownership Top 50 Report, please visit http://employeeownership.co.uk/wp-content/uploads/Employee-Ownership-Top-50-2018.pdf
*Like-for-like means that each of the 50 companies on the list are compared against their own prior year results