Technology software recruitment consultancy creates Employee Ownership Trust to ‘connect long-term future of the employees and Group’
Specialist technology software recruitment consultancy Understanding Recruitment Group has formalised its move to an Employee Ownership Trust (EOT), making its staff a 60% stakeholder in the business.
This decision has been made to “connect the long-term future of the employees with the long-term future of the Group”, while also protecting and enhancing the business culture that has been at the core of the success.
The sale by the Board of the Understanding Recruitment Group is designed to allow employees to take a stake in the business and share in the longer-term growth and financial success, ranging from six to seven-figure pay-outs.
The award-winning firm, which is based in St Albans, Hertfordshire, specialises in some of the most highly desirable niche technology sectors, including software engineering, DevOps and artificial intelligence, as well as its Understanding Solutions business, specialising in Statement of Work (SoW).
In the US, in Boston, the Understanding Recruitment Group operates under Acceler8 Talent, specialising in emerging tech roles across hardware acceleration, software engineering, AI and machine learning, and photonics.
The structure of the Board will remain unchanged with Chris Jackson as CEO and Dale Swords as COO.
CEO Chris Jackson said: “This announcement is without a doubt the most significant and important one in our history. The Board has always been driven by creating an inclusive and rewarding culture and we feel strongly that the EOT will help further boost the already impressive growth performance (currently at over £5m EBITDA) and most importantly give all employees the opportunity to financially benefit from pay-outs ranging from six to seven-figures depending on their length of service and seniority.
“Dale and I could not be prouder of the achievements and incredible performances we have witnessed, especially over the past couple of years.
“The way the business rallied together and fought through the challenges of Covid was inspirational. It made us stronger and more resolute as an organisation and built a foundation for us to go on gaining an even deeper presence within our specialist markets across not only the UK and US, but also more recently on a wider global basis.
“I would like to thank Suzy Bolton (CFO) for being a key driver in making this happen, along with the other Group directors, as well as Grant Thornton and Osborne Clarke.”
About Understanding Recruitment Group
The Understanding Recruitment Group is a multi-award-winning recruitment agency, partnering with companies and tech talent within Java, JavaScript, Python, .NET, DevOps, Machine Learning & AI, Digital & Tech, as well as emerging markets such as Rust, Elixir, and Golang, to create the perfect partnership on both sides.
Its mission statement is to unlock life-changing opportunities across the UK, Europe, and the US, and it’s proud to have grown one of the largest software engineering recruitment teams in the market.
With currently over 100 employees across two continents, the Understanding Recruitment Group is set to pursue rapid growth in the UK, Europe and the US with continued investment in new solutions and services for its partners through Understanding Solutions.
Having recently celebrated its 15th year in business, the Understanding Recruitment Group has been recognised with several industry awards over the years, most recently gaining the coveted Best Companies to Work For 3-star accreditation, signifying world-class levels of employee engagement.
As voted for by employees, Understanding Recruitment was also in the Top 10 Best Recruitment Companies to Work For in the UK in 2022 and has previously been awarded ‘Best Staffing Firm to Work For’ at the SIA Awards three years in a row.
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