Construction firm Lindum Group is featured in a list of the largest employee-owned businesses in the UK.
The North Hykeham-based firm is ranked 32nd in the Top 50 list, which is produced each year by the Employee Ownership Association (EOA).
It is compiled based on employee numbers and Lindum sits alongside firms such as Oldrid & Co Ltd and Unipart.
Lindum Group, which also has offices in Peterborough and York, has been owned by its staff since employees were first given the opportunity to buy shares more than 20 years ago.
The company believes being employee-owned contributes greatly to its ongoing success.Chairman David Chambers said: “Lindum seeks long term relationships with its clients. To help everyone here look long term rather than short term we offer all staff the opportunity to become a shareholder of the business. This helps to make all Lindum colleagues focus on the success of our projects, for and with our clients.
“We believe we have a dedicated workforce who take extra pride and care in their work because they have a vested interest in the company and its future. What’s more, the dividend payments – along with the Profit Related Pay we give all employees equally - means the company’s success is shared with everyone.”
The Top 50 list is produced each year by RM2 in partnership with the Employee Ownership Association (EOA), the voice of employee-owned businesses in the UK.
Its purpose is to highlight the excellent performance of these businesses – and this year’s Top 50 have a combined sales of £22.7bn and a combined workforce of 176,000 employees.Deb Oxley, CEO of the Employee Ownership Association said: “The top end of the EO sector continues to grow year-on-year, posting impressive improvements in operating profit of 10.1% and productivity 6.2% year on year.“It shows the growth and contribution of businesses such Lindum not only to the regions in which it operates and the UK economy but also to its employees who have a clear role and stake in the outcome of them being successful.”
The EO Top 50 is designed to provide inspiration to companies that are considering becoming employee owned and to support those that are in employee ownership.
The EOA said the benefits of employee ownership have been proven by its research, and include improving employee health and wellbeing, increasing productivity and fostering creativity and innovation across an array of industry sectors. In addition:•UK employee owned companies contribute over £30 billion to the UK economy annually•Employee-owners have higher levels of job satisfaction, feel a greater sense of achievement and job security, and are more likely to recommend their workplace than employees in non-employee owned businesses•Employee owned businesses operate in a range of sectors including healthcare, social care, education, transport, manufacturing, retail and professional services