How employee ownership has transformed our Yorkshire firm for the better - Catherine Wallace

Well, I say we’re lucky, but attracting and retaining our team of superstars was no accident.

The flourishing growth of both our business and our team at First Event over the last few years is down to our status as an Employee Owned Organisation.

Having pivoted and adapted our way through the pandemic, we saw employee ownership as a way to reward our people for their determination, but also for the faith they showed in us as their employer.

And we wanted to show our people just how reciprocated this faith is.

We knew that we wanted First Event to feel like it belonged to everyone, so as we began to work more closely with the Employee Ownership Association, we saw an opportunity to not only innovate our business model, but to solidify our team at the very heart of what we do.

Our ethos is rooted in reward, recognition and loving what you do.

Since becoming employee owned, there’s been a huge shift in what motivates our people to reap these rewards.

We’ve seen a boost to our productivity, an increase in camaraderie and the engagement with the brand itself has increased across the board.

It revitalised our collaboration, empowering people at all levels of the company to come forward with their ideas.

It’s everyone's company, our teams know that everyone’s opinion matters. This has also given us an unexpected edge over our competitors.

Particularly during the current talent and hiring crisis, the First Event team has more than doubled in size over the last 12 months, taking us from nearly 40 employees to more than 80.

When you’re going into any period of uncertainty, the one thing you need more than ever is a strong team all pulling in the same direction. Employee Ownership has definitely helped with that. Everyone knows that we’re headed into stormy seas, but having everyone focused and invested in the success of the company is a real strength for us at the moment.

If you’re considering becoming Employee Owned, do it. Take the time to do the research and look at the Employee Ownership Association.

Follow their advice, talk to the people who’ve done it before, and make sure you’ve got a plan in place to engrain Employee Ownership into the fabric of your company.

Particularly with an economic recession looming, our employee ownership status has allowed us to have a confident steer on the things within our control.

While there are still plenty of things that lie outside of our control, as there is for any business worried about the future at the moment, we know that we’ll continue to do everything we can to produce our famously high levels of service, working together to ensure that our clients succeed.

At First Event we know that whatever happens, we’re all invested in the future of what we do, together. And that’s a far less frightening future to be heading into.

Catherine Wallace is Employee Engagement Manager at First Event