Aviation organisation 2Excel Aviation has launched an employee ownership trust to boost reward and retention among its 160 employees, who operate across eight business units, including T2 Aviation, 2Excel Engineering, Scimitar, Sabre, Broadsword, Leading Edge, GeoSpacial and The Blades.
The UK-based organisation, which is the first aviation firm in the country to utilise an employee ownership trust, has sold 51% of its directors’ shares into an employee ownership trust, making the business employee-owned.
The trust was implemented this year to enable staff to benefit from the organisation’s growth, as well as to reward, retain and incentivise 2Excel Aviation’s workforce, so as to build a successful and sustainable future for the business.
Louise Campbell, HR manager at 2Excel Aviation, said: “Employee ownership is a model we are fully embracing. Employee-owned businesses benefit from higher staff engagement and better employee retention. Our employees are empowered to think and act like owners and they are already benefiting from the [employee ownership trust].”
The organisation’s original shareholders will remain as 2Excel Aviation’s directors.
Andy Offer OBE, director at 2Excel Aviation, added: “2Excel has seen continued growth and despite challenges brought on by the financial crash, the [organisation] stayed strong and survived, largely through diversification, offering customers bespoke solutions to challenging projects and a great work ethic from our world-class team of exceptional people.
“The employees really care about the business, its success and the future, and the [employee ownership trust] aims to retain our people, incentivise and reward them. Ultimately, the [employee ownership trust] and its employees will project the [organisation’s] values and reputation.”