Specialist technology recruiter becomes employee owned to ‘secure future for the benefit of loyal workforce’

The Employee Ownership Association (EOA) congratulates Vector Resourcing after it announced that its current shareholders have sold 100% of the business into an Employee Ownership Trust (EOT).

The specialist technology recruiter, which was founded in 1997 and is headquartered in East Sussex, has 26 years of experience supplying technology and business change resource to a diverse client base across the UK and Europe.

The decision to become employee owned came after several offers to buy the business were proposed to the MD, Donna Medway, who believed that there was a better way to “secure the future of the company for the benefit of our loyal workforce, many of whom have been with the business for over two decades”.

In addition, Donna wanted to ensure there is a robust succession plan and a clear path for opportunity for the company’s employees. To reward the employees for their commitment during the Covid pandemic and their contributions to building the business thereafter, an EMI share option scheme was implemented in 2021.

With the recent sale to the EOT, qualifying employees will benefit from five to six-figure pay-outs. Additionally, partners will receive a distribution of the company’s performance-based profits moving forward, with £3,600 per annum being paid tax-free.

“I’m absolutely delighted to be able to announce this exciting new chapter in our company story,” said Donna. “I am so fortunate to have a core group of amazing colleagues who will now become partners, and it is a great time for them to be driving the business forward positively and continue to be at the heart of everything we do.”

The EOT will be managed by a board of trustees, with Genna Haines and Mark Cassé serving as directors, along with an independent trustee appointed.

A company statement added: “This move is expected to drive growth and success for Vector, as the company continues to prioritise the welfare and satisfaction of the workforce.

“By becoming 100% employee owned, the move reflects Vector’s commitment to its employees and their future success, as well as its desire to create a culture of collaboration, innovation, and shared success.”

Vector Resourcing would like to thank its professional advisors; Craig Harman of Perrys, as well as Stephen Hadlow and Mairead Platt of Brabners for their advice in ensuring the smooth transition into employee ownership.

Related Articles

How to Become Employee Owned

EOA Podcast: Episode 5 – Considerations before, during and after transitioning to employee ownership

Why there’s no ‘catch’ when it comes to employee ownership | Brabners guest blog

‘Why you need to keep that momentum after transitioning to employee ownership and ensure it doesn’t just feel like business as usual’ | HLM Architects case study

DJS Research video case study: Delivering good engagement in an employee-owned business – YouTube