ISPE 2014SCITECH – AN EMPLOYEE OWNED COMPANY

Scitech, formed in 2002, is an ISO 9001: 2008 accredited company for the supply of consultancy, design, construction and qualification services to the Pharmaceutical and Biotechnology industries.

During 2010, Scitech underwent a complete rebrand of the company. This allowed the development of the organisation and shaping of the business, first, from an internal aspect – building on the existing culture and ethos and secondly building on the strength of customer commissions and projects undertaken from the outset. The key change was the addition of the strap-line ‘Perfect Outcomes’ to the name.

Perfect Outcomes… The aspiration that drives our business. A determination that we seek to deliver in every aspect of our work, the way we conduct our business, work together as individuals and as a team. Only though the delivery of Perfect Outcomes can we continue to satisfy our clients.

When a number of the original shareholders left the company a solution was sought to find a suitable and appropriate way forward for the company to enable continued growth and at the same time ensuring full control remained within the company and without potential external pressures and demands.

In 2012, an Employee Benefit Trust (EBT) was set up to acquire all the shares of Scitech and hold them for the long term benefit of all permanent employees. The EBT owns 100% of Scitech and is managed by three Trustees whose role it is to ensure that Scitech is operated for the benefit of all employees. The Directors of Scitech are accountable to the Trustees instead of shareholders.

The advantages of an employee owned company can be summarised as follows:

  1. Employees retain control of the company for the long term
  2. The model and approach fits with the ethos, ethics and culture
  3. All employees share through performance related remuneration
  4. Attractive to new recruits
  5. Clients see an organisation who wants to deliver long term value rather than short term profit

Other examples of employee owned companies in the UK include – John Lewis and Arup Group.

A further aspect of the Trust is the commitment to give a percentage of company profits to local charities and this is administered by the Trustees. For 2015, the charity chosen to benefit from this largesse is Shooting Stars Chase at Guildford.