Legal view: Having a vested interest

The Covid pandemic and its impact has made businesses of all sizes take a long, hard look at how they operate and what their future holds.

One result of all that soul searching is a rising interest in employee ownership - giving the workforce a vested interest in the company’s future success.

Interest has hit record highs during the pandemic. Figures released in July revealed 250 new employee owned (EO) businesses had been established over the previous 18 months. Today EO companies contribute more than £30bn to the UK’s GDP.

Supporters of the idea say if offers a “compelling option” for improving staff retention, putting employees at the heart of the organisation while delivering a persuasive point of difference to customers.