Shore marks two years of employee ownership with strong growth and four new employees
Published: 14 March 2022
Shore transitioned to employee ownership in March 2020 to futureproof growth and maintain our strong team ethic and culture.
The transition was part of a succession strategy, devised by founder Nick Foley, as a way of carefully planning to ensure successful business continuity if he were to one day step down as Managing Director.
Unknown at the time of planning the transition was that the pandemic was about to hit. Employee ownership in the UK reached a record high during this time, with over 250 employee-owned companies created since March 2020. With employee wellbeing, increased profitability, increased productivity, and business resilience as recognised benefits of employee ownership, it’s a welcome strategy for a business wanting to maintain growth and act in the best interests of employees.
Shore, however, had already successfully made the transition to employee ownership with 100% of employees agreeing, during the midst of the pandemic, that it was a great direction to take. The way we worked with our global clients hadn’t changed as that was already largely being done remotely, but with employees now having a tangible stake in the business, the change notably increased motivation and productivity, despite the unprecedented times and shift to home-working.
Two years on, our employees are reaping more of the tangible benefits as we return to a more structured approach to hybrid working. In the last few months, we have welcomed 4 new members of staff ranging in roles from mechanical engineering to marketing, taking the company to over 30 people, with more opportunities currently being advertised. Our services are expanding and client portfolio is increasing, adding to our long-standing partnerships with some of the world’s leading medical and pharmaceutical companies.
Nick Foley, Founder and Managing Director: “Changing to employee ownership wasn’t just a succession strategy, it was an acknowledgement of the talent of Shore employees. Now when customers engage with any of the Shore team, they’re in fact working with a partner of the company, which is incredibly valuable.
We’re not just a medical design company, we are a team of passionate people based in one of the most vibrant and beautiful cities in the world. We create award-winning products, share in our success, and have fun along the way.”
Do you want to be part of our passionate team, own a share of the business, and create exceptional products that have a positive impact on people’s lives? Take a look at our current opportunities.