Ownership performance and reward at rcu what works for us
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Ownership, performance and reward at RCU - what works for us. Gordon Aitken, Director RCU. About us – briefly!. Colleges and training companies. Private sector clients. Customer surveys; staff surveys; market analysis; data mining; labour market info;

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Ownership, performance and reward at RCU - what works for us

  • Gordon Aitken, Director RCU


About us – briefly!

Colleges and training companies

Private sector clients

Customer surveys; staff surveys; market analysis; data mining; labour market info;

stakeholder perceptions; income generation; customer relations management.


Previous Model (2002-April 2009)

  • Managing Director

  • Deputy Director

  • EBT nominee

  • 2 Non-Execs

  • Right to attend for all other staff

  • Salary bonus (equal for all staff)

  • EBT group benefits (caravan, events)

  • Reinvestment


Current Model (April 2009 onwards)

  • Share Ownership

  • 17 voting shares awarded after 1 year’s service.

  • 6745 capital owning shares (and 900 options) – 60 per year of service.

  • Managing Director

  • 3 Exec Directors (Elected A shareholders)

  • 3 NEDs

  • Right to attend for all other staff

  • Dividend (equal for all staff)

  • Staff Benefits Budget (group benefits)

  • Reinvestment


So what’s changed? This is what colleagues say

Click here (you need to be running slide show)


Remuneration Structure


Benefits and (Potential) Problems

Benefits

Potential Problems

  • Initial legal/tax cost

  • Slower decision-making

  • Risk of “free riders”

  • Disenchanted “top performers”

  • Small company model – James Meade (1975) “employee-shareholder enterprises” c30?

  • Collective enterprise

  • Motivation/innovation

  • Cost control

  • Self-adjusting remun.

  • Peer group impact

  • Reduced mgt cost

  • Recruitment

  • Transparency

  • Development spur

  • Longer perspective


Final thought

  • No structure works without genuine employee involvement ... but most structures will work with it.


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