The aim of employee ownership day is to draw attention to and promote the values and benefits of employee ownership into the wider business community. The scheme is a part of a co-operation between the Department for Business, Innovation and Skills (BIS) and the Employee Ownership Association (EOA).
TTP Group’s exceptional performance and unity of purpose have been ascribed in part to employee participation in the ownership of the Company, and with 88% of TTP Group’s current employees being shareholders they are a great example of employee ownership success. This is now being more widely accepted, as demonstrated by the conclusions of The Nuttall Review published last year, where employee ownership was identified as one of the centrepieces to creating long term sustainable economic growth.
Lord Younger said
“As we focus on growth, there has never been a more important time to support alternative ways of running a business. There is clear evidence that businesses with employee ownership not only help support growth, but also boost the retention, innovation and motivation of their employees. My visit to TTP today has shown just how businesses with employee ownership are at the forefront of a vibrant, diverse and growing economy.”
Commenting on the celebrations and the visit, TTP’s CEO Peter Taylor said, “We are very pleased to be able to support the promotion of employee ownership. Right from the very beginning of TTP, 25 years ago, employee ownership was a key founding value. Today the company operates an internal share market, has a generous share purchase scheme, all part of a policy of facilitating the recycling of shares from leavers to the new generation of staff.”