Leeds-based digital marketing agency Engage Interactive has officially become employee-owned. The move comes after 100 percent of the company’s shares were transferred to an Employee Ownership Trust (EOT). This transition, initiated by founder and managing director Alex Willcocks, aims to uphold the agency’s core values and ensure sustained growth.
Having completed its 17th year, Engage Interactive has experienced substantial growth, including a record number of new clients last year. Meanwhile, this change also highlights the company’s dedication to its employees and its core values, as demonstrated by becoming Leeds’ first certified B Corp in 2021.
New Ownership Structure
Leeds-based digital marketing agency Engage Interactive has transitioned to becoming employee-owned. The company has transferred 100 percent of its shareholding to an Employee Ownership Trust (EOT).
This change marks a significant milestone in Engage Interactive’s 17-year journey. It was initiated by founder and managing director, Alex Willcocks, to preserve the agency’s values and culture while promoting future growth.
Reasons Behind the Move
Engage has shown strong growth recently, winning a record number of new clients last year. The financial year 2023/24 ended with 17 new business wins.
The decision aligns with the company’s long-term commitment to its employees. Engage became Leeds’ first certified B Corp in 2021, reflecting its core values.
Leadership’s Perspective
Alex Willcocks expressed his excitement about the transition. According to him, it is not just about ownership but about recognizing the talent, creativity, and passion of each team member.
He stated, “The move to employee ownership makes us ‘people powered’ in the truest possible sense.” This reflects the agency’s commitment to creating a motivating and rewarding work environment.
Willcocks believes that everyone having a meaningful stake in the company’s future success will propel them to greater achievements.
Operational Changes
All team members will be part of the EOT, and the operations board at Engage will remain unchanged. However, two employee-voted representatives will be added.
A new board of trustees will be established to represent the employees’ best interests. This board will include Alex Willcocks as the managing director and Founder Trustee.
Sanjeevni Dip-Matadeen will serve as the trustee’s Employee Representative. Additionally, co-founder Dave Wrightson will rejoin the company as the Independent Trustee after his retirement.
Co-Founder’s Insight
Co-founder Dave Wrightson is thrilled to be part of this new chapter. He believes the ownership transformation signifies a huge step in the company’s evolution.
Wrightson played a defining role in shaping Engage and is excited to contribute again. He looks forward to his role as Independent Trustee.
He said, “I’m excited to get stuck into my role as independent trustee,” highlighting his eagerness to support the team.
Employee Reactions
The employee ownership model is designed to benefit the entire team rather than a minority group of shareholders.
By becoming employee-owned, Engage aims to create a more equitable business model. This move is expected to foster a more motivating and rewarding work environment.
The move to employee ownership aligns with Engage’s ongoing commitment to its core values and its team.
Future Prospects
The transition to employee ownership is seen as a catalyst for future growth at Engage. The agency aims to build on its recent successes under this new structure.
Engage Interactive aims to achieve greater success and innovation with everyone having a stake in the future. The new ownership model is expected to drive higher levels of motivation and creativity within the team.
With a solid foundation built over the years, Engage is well-positioned to harness the benefits of being employee-owned.
The shift to employee ownership at Engage Interactive signifies a bold new direction for the company. It not only reflects the agency’s dedication to its team but also positions it for future growth and innovation.
With a strong foundation and a committed team, Engage is well-prepared to reap the benefits of this new structure, fostering a more equitable and motivating work environment.