Manchester-based contracting and accounting firm Sapphire is to distribute employee ownership bonuses worth £350,000 to its umbrella contractors.
The total will be awarded to contractors who have worked for the firm for more than a year, as part of its commitment to rewarding the contributions of its entire workforce. Its decision to extend employee ownership bonuses to its umbrella contractors is part of its aim to ensuring both contractors and internal staff share in its success.
Sapphire transitioned to an employee ownership trust structure in 2021 and has experienced a 20% year-on-year increase in revenue and 80% expansion in key business areas. The model has helped to drive employee and customer satisfaction.
Mark Connor, managing director of Sapphire, said: “Becoming employee owned has driven us all to work harder, reach higher and continuously smash our goals. When we all have a stake in the organisation’s success, we are more motivated to push boundaries and deliver the best for our clients, contractors and ourselves. This sense of ownership has also helped us attract the best talent in the industry, creating a truly unique and collaborative workplace.
“We’ve always believed that our contractors are integral to Sapphire’s achievements. By sharing £350,000 in bonuses with our long-serving umbrella contractors, we’re reinforcing our appreciation of them as vital members of the team. It’s this kind of recognition that helps build loyalty and sets us apart in the industry. We are not just building a successful business, we are building a future where our contractors, clients and team grow together. We believe in unlocking ambition and are committed to taking our entire workforce along with us on this exciting journey.”
Other employee benefits that Sapphire offers include an electric vehicle salary sacrifice scheme, a health cash plan, enhanced parental leave, annual leave that increases with service and an extra day off for birthdays.
