SSQ – a 100% Employee Owned Business
As we approach our first anniversary of converting to an Employee Ownership Trust (EOT), it is a good time to reflect on the positive changes that have taken place at SSQ in recent months, now that we are 100% employee owned.
When the EOT transaction completed in February 2022, the new management team committed to preserving SSQ’s unique culture in the belief that SSQ’s employees are the people who care about the business most and are the key to SSQ’s continuing and increasing success.
One of the most significant changes since the EOT was put in place has been the launch of an Employee Forum enabling all employees and co-owners of the business to have a say in how things are run and give feedback and suggestions as to what it does well and what it can improve – offering representatives of the Employee Forum a voice at board level.
Making the running of the business more consultative has resulted in several initiatives being adopted that have improved the culture of the business in just a few months.
There are now regular global presentations by senior fee earners, sharing market information and trends which has helped raise the level of knowledge and skills across the whole business
New technology projects to enhance collaboration between teams and jurisdictions have also been brought forward as a result of feedback from employees enabling us to improve communication between teams, international cross selling opportunities and enhance our hybrid working policies.
We have adapted our information and technology strategy to ensure employees can be as comfortable and as productive as possible when they are working remotely, when they are mobile, and when they are in the office.
By listening to employees’ suggestions on technology, we have accelerated our roll out of new IT equipment to enable everyone to work more effectively and efficiently wherever they are based
Finally, the new management team felt that along with enhancing SSQ’s culture, the EOT should be used to ensure that all eligible employees share in the rewards of owning the business. Therefore, in January 2023, we paid EOT bonuses to more than 90% of current employees as recognition of everything they helped achieve in 2022.
The transition to 100% employee ownership has resulted in significant changes and as co-owners of the business all our employees have the ability to shape the company and decide the direction it takes. SSQ plans to strengthen its commitment to putting its employees at the centre of everything it does in 2023 with more exciting projects and initiatives on the horizon. Watch this space.