In October 2023, Falco was invited to attend an EO event at the Houses of Commons, to launch the WPI Economics report entitled Exploring the Potential of the Employee Ownership Business Model with the report being part of the EO Knowledge Programme.
The event was well attended with numerous Employee-Owned companies represented including our own Tony Barcia Parsons who reports that the canapés were excellent!
Falco had contributed to the information secured by WPI to prepare the findings in the report, and the summary of results were unsurprising.
The headline findings of the report can, generally, be seen within Falco, and are shown below.
Comparing Non-Employee-Owned Businesses (EOBs), with Employee-Owned Businesses (EOBs) the findings were:
- >50% more likely to be expanding their workforce.
- >70% less likely to have a high turnover of employees.
- >25% more likely to see their profits increase.
- >50% more likely to have increased investment in research and development (R&D).
- >33% more likely to be planning to increase investment in their business next year.
Looking at the above, we can easily see within Falco that points 1 & 2 are obviously correct, as we have a larger workforce than ever, and most of us stick around. From recent investment in new vans, equipment and training, it is also clear that Falco are vested in points 4 and 5, with investment being a constant theme.
This leaves point 3, increased profits. The past few years have indeed been kind to Falco, but all Falco Employee Owners should now see that the link between the expansion of workforce, maintaining employees (and subcontractors), and constant investment, that are required for point 3, increased profits to occur.
Click to download the report: Exploring-the-potential-of-the-Employee-Ownership-business-model.pdf (ownershipatwork.org)
More info on the EOA summary findings can be found here: https://employeeownership.co.uk/kp/