The Aberdeen-based firm enhances employee involvement through ownership trust.
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Introduction to employee ownership
In recent years, the concept of employee ownership has gained significant traction in the UK, with many companies recognizing the benefits of involving their workforce in decision-making processes. One such firm leading the charge is TMM Recruitment, based in Aberdeen.
The company has transitioned to an Employee Ownership Trust (EOT), allowing its 32 employees to play a pivotal role in shaping the future of the organization.
The journey of TMM Recruitment
TMM Recruitment, originally known as Thorpe Molloy Recruitment, was established in 1997 by Karen Molloy and Judith Thorpe.
Over the years, the firm has built a strong reputation in the recruitment industry, specializing in various sectors including accountancy, finance, HR, supply chain, legal, IT, office support, and engineering. In 2024, TMM Recruitment reported impressive revenues of £16.9 million, showcasing its robust business model and the dedication of its team.
Commitment to employee empowerment
Amanda McCulloch, the Chief Executive of TMM Recruitment, emphasized that the decision to adopt an EOT reflects the company’s commitment to its employees and their future. She stated, “This Employee Ownership Trust is our way of recognizing and rewarding the people who have been instrumental in making TMM Recruitment what it is today.” By placing the shares of the business in trust for its employees, TMM Recruitment not only empowers its workforce but also preserves its core values and independence.
The impact of employee ownership in the UK
Since the introduction of EOTs in 2014, the number of employee-owned businesses in the UK has surged by 90%, with over 1,800 firms now operating under this model. The Scottish Government has set an ambitious target of reaching 500 employee-owned businesses by 2030, highlighting the growing recognition of the benefits of employee ownership. This model fosters a collaborative environment where employees feel valued and invested in the company’s success.
Looking ahead
As TMM Recruitment embarks on this new chapter, Amanda McCulloch remains committed to leading the company with a focus on its foundational values. She believes that this transition will not only strengthen the business for the long term but also enhance the collaborative spirit that defines TMM Recruitment. With a dedicated team and a clear vision for the future, TMM Recruitment is poised for continued success in the competitive recruitment landscape.
