Answer Digital has passed into employee ownership.
07:47 24 June 2020
Leeds-based digital and IT consultancy Answer Digital has passed into employee ownership, founders Gary and Kate Parlett have confirmed.
Founded 21 years ago, the firm serves a wide range of customers including global financial institutions, the NHS and a number of international retailers. The company is forecast to have a £9million turnover in 2020.
The move will see 85 staff to have ownership in the business through an employee ownership trust. The trust's board will have a direct say over the operation of the business. The Parletts will actively support the business while senior members will join the board.
Gary Parlett, said: "We have grown a team that is respected across the industry as original thinkers that put innovation and a desire to deliver exemplary work at the heart of everything they do.
"To support the team and create a platform for what comes next, we have decided to move Answer Digital to employee ownership. It means everyone will have a stake in building a sustainable business that has the freedom to do great work.
"Typically, employee-owned businesses have higher productivity, greater levels of innovation and are more resilient to economic headwinds. The people that work in them are often more engaged, happier in their jobs and less stressed.
"We believe that employee ownership can answer some of the big questions we are facing as a society and an economy. We need to address the balance between work and reward and unite people behind a common purpose.