The Donald Insall Associates’ Employee Ownership Trust (EOT) has now purchased the final remaining shares of the Practice from both previous and existing Directors on behalf of all practice members. The latest EOT purchase, in addition to the 5% share held by Sir Donald Insall, means that the Practice is now 100% employee-owned.
This has been decades in the making: in 1991 Donald Insall, as sole owner and Director, issued shares of the Practice to what was then called the Employee Benefits Trust as part of a succession plan and we became one of the first architectural practices to become employee-owned. In the mid-1990s, the trust held 55% of the Practice’s shares, gradually increasing this percentage in the decades that followed.
Employee Ownership is more than an annual dividend payout. As a collectively owned practice, transparency becomes a key element in nurturing both members’ empowerment and sustainable growth as a practice. Members of the Practice at all levels are actively encouraged to learn about and engage with how our business is governed, including lunchtime sessions on financial awareness to opportunities to spend a day observing our monthly board meetings. These initiatives are reflected in a practice-wide culture of encouraging involvement in managing the practice.
Meanwhile, all of our branch offices celebrated last week with a surprise package of champagne!