Employee ownership (EO) has the potential to deliver outstanding benefits to individual owners and drive exceptional company performance.
-However, research shows, for that to happen, a business must have excellent EO management practices in place.
+However, research shows for that to happen a business must have excellent EO management practices in place.
To help identify EO best practice, we developed the EO Framework. It is built on insights gathered directly from leaders, senior decision-makers and employee owners on how they have successfully implemented impactful EO.
-Developed by Great EO's founding partners in collaboration with the Employee Ownership Association, the EO Framework sets out four simple areas of EO management best practice:
+Developed by Great EO’s founding partners in collaboration with the Employee Ownership Association, the Framework sets out four simple areas of EO management best practice:
To bring the EO Framework to life, we have created a simple health check - the eoQ™ test - to help you assess the strength of your current EO practice and signpost areas for possible improvement. It should take up to 20-30 minutes to complete the questionnaire.
+To bring the Framework to life, we have created a simple healthcheck ‐ an eoQ™ test ‐ to help you assess the strength of your current EO practice and signpost you at areas for possible improvement. It should take upto 20-30 minutes to complete the questionnaire.
+ +You are not expected to know absolutely everything about your business. Even if you are unsure when responding to any statement, please just give your best answer based on what you know right now.
It is vital that individual leaders, trustees, employee representatives and all employee owners understand their roles to ensure a successful EO business.
+It is vital that individual leaders, trustees, employee representatives and all employee owners understand their roles to ensure a successful an EO business.
To what extent does everyone fulfil their responsibilities in your business?
@@ -241,17 +243,17 @@1. All our governance bodies (boards, councils and voice groups) are clear on their role in ensuring long-term success for the business and its employee owners.
+1. Our governance bodies (operating board and trustees) effectively carry out their roles in ensuring success for the business and its employee owners.
-2. All our governance bodies work collaboratively and effectively to promote an ownership culture.
+2. Our governance bodies work collaboratively and effectively to promote an ownership culture.
-3. All our governance bodies involve independent members who bring relevant experience, perspectives, and insights.
+3. Our governance bodies involve independent members who bring relevant experience, perspectives and insights.
-4. All our governance bodies effectively use the diverse skills, experiences and opinions of their members.
+4. Our governance bodies effectively use the diverse skills, experiences and opinions of their members.
-5. All our governance bodies fairly distribute ownership benefits in a manner that supports an ownership culture.
+5. Our governance bodies fairly distribute ownership benefits in a way that supports a strong ownership culture.
-6. All our governance bodies make decisions in the long-term best interests of the organisation and its stakeholders.
+6. Our governance bodies make decisions in the long-term best interests of the organisation and its stakeholders.
2. Our people processes (recruitment, development, appraisal and reward) encourage and reward our desired owner behaviours.
-3. Our culture creates a safe environment for feedback, learning, growth, health, well-being, inclusion and diversity.
+3. Our culture creates a safe environment for honest feedback and meaningful contribution to business decisions.
-4. Our culture and support for people develops and retains the right talent.
+4. Our culture celebrates our ownership model and uses it to build collaboration and connection.
1. All of our managers (those responsible for managing people and processes) help ensure our people understand how and where decisions are made in the business.
+1. Our managers (those responsible for managing people and processes) help ensure our people understand how and where decisions are made in the business.
-2. All of our managers help ensure our planning process, goal setting, and feedback channels enable people to influence decision-making as owners.
+2. Our managers help ensure our planning process, goal setting and feedback channels enable people to influence decision-making as owners.
-3. All of our managers help ensure our people clearly understand the connection between their owner behaviours and strategy, business performance and reward.
+3. Our managers help ensure our people clearly understand the connection between their owner behaviours and strategy, business performance and reward.
-4. All of our managers help ensure our people are encouraged and empowered as owners to take responsibility for their own performance and contribution.
+4. Our managers help ensure our people are encouraged and empowered as owners to take responsibility for their own performance and contribution.
1. During tough times, we balance the current and future needs of our employee owners with those of the organisation.
+1. During tough times, we balance the current and future needs of our employee owners to ensure we are stronger in the future.
2. Our employee owners identify and manage risks to protect our organisation and reputation.
-3. We learn from tough times to become stronger in the future.
+3. We ensure our ownership model helps promote long-term retention of talented colleagues.
4. Our culture encourages leaders, managers and specialists to develop candidates for their own succession.
@@ -341,7 +343,7 @@An EO business can use its ownership model to provide commercial advantages as it faces into the world.
-To what extent are you harnessing the contributions of employees as owners to strengthen the quality and effectiveness of your strategy, innovation and commercial sustainability?
+To what extent are you harnessing the contributions of employees as owners can strengthen the quality and effectiveness of your strategy, innovation and commercial sustainability?
@@ -405,7 +407,7 @@2. We leverage our EO status to differentiate our employer brand to strengthen our people proposition and attract talent.
-3. We leverage our EO status to differentiate our company brand to develop and retain high-quality relationships with suppliers and delivery partners.
+3. We leverage our EO status to differentiate our company brand to attract and retain high-quality relationships with suppliers and delivery partners.
Well-run EO businesses ensure decision-making is informed by relevant data and insights from inside the business and by benchmarking themselves against others. This helps set strategic focus, direct operational effort, ensure continuous improvement and drive better business performance.
+Well-run EO organisations ensure decision-making is informed by relevant data and insights from inside the business and by benchmarking themselves against other firms. This helps set strategic focus, direct operational effort, ensure continuous improvement and drive better business performance.
Do you have the right EO data and insights to make this happen?
@@ -432,11 +434,11 @@1. We are collecting data within the business that helps us understand how we benefit from our EO model.
+1. The business collects data from our employee owners that help us understand the benefits of our EO model.
-2. We measure and compare our EO performance with other similar EO businesses.
+2. We compare our EO performance with other EO businesses and learn from them.
-3. We measure and compare our performance with other businesses in our sector (regardless of their ownership model).
+3. We measure and compare our performance with other businesses in our sector (regardless of their ownership model) and learn from them.
4. We pay attention to our impacts on more than just our employee owners (e.g. our customers, community or planet).
@@ -454,13 +456,13 @@1. Our leaders and governance bodies use relevant EO data and insights to increase engagement levels among our people.
+1. We use relevant EO data and insights to increase engagement levels among our people.
-2. Our leaders and governance bodies use relevant EO data and insights to strengthen our ownership culture.
+2. We use relevant EO data and insights to strengthen our ownership culture.
-3. Our leaders and governance bodies use relevant EO data and insights to grow our business.
+3. We use relevant EO data and insights to grow our business.
-4. Our leaders and governance bodies use relevant EO data and insights to meet the aspirations of our current employee owners.
+4. We use relevant EO data and insights to meet the aspirations of our current employee owners.
1. EO data and insights helps us demonstrate that our EO model encourages collaboration and team-working.
+1. We are confident that our EO model encourages collaboration and team-working.
-2. EO data and insights help us demonstrate that our EO model promotes engagement and job satisfaction.
+2. We are confident that our EO model promotes engagement and job satisfaction.
-3. EO data and insights help us demonstrate that our EO model improves health and well-being for employee owners.
+3. We are confident that our EO model improves health and well-being for employee owners.
-4. EO data and insights help us demonstrate that our EO model supports colleagues’ skills and capability.
+4. We are confident that our EO model supports colleagues’ skills and capability
-5. EO data and insights help us demonstrate that our EO model encourages strong ideas from colleagues.
+5. We are confident that our EO model encourages strong ideas from colleagues.
-6. EO data and insights help us demonstrate that our EO model helps us recruit and retain talent.
+6. We are confident that our EO model helps us recruit and retain talent.
-7. EO data and insights help us demonstrate that our EO model boosts personal commitment and productivity.
+7. We are confident that our EO model boosts personal commitment and productivity.
-8. EO data and insights help us demonstrate that our EO model increases profitability.
+8. We are confident that our EO model increases profitability.
-9. EO data and insights help us demonstrate that our EO model encourages more contribution to the local community.
+9. We are confident that our EO model encourages more contribution to the local community.
-10. EO data and insights help us demonstrate that our EO model encourages a focus on protecting the planet.
+10. We are confident that our EO model encourages a focus on protecting the planet.