Dynam has handed ownership of the business to its 16 employees in a move it hopes will secure its long-term future.
Eleanor Neilson and Karen Green, joint managing directors of the Scottish creative marketing agency, decided to transfer their shares to an employee ownership trust (EOT), after establishing it more than 20 years ago.
The EOT is designed to directly benefit both current and future staff members, and will see the pair continuing to manage the day-to-day running of the company.
Speaking about the move in a company blog, co-managing director of Dynam, Eleanor Neilson, explained that she and her business partner had been considering the future of the company for a while.
She said: “This is a great business doing fantastic work for a wide range of clients, both national and international. There’s every sign that we’re only going to build on that success, and that is largely down to the brilliant team we have, many of whom have been with us long-term.
“We chose the employee ownership route because we believe it embodies the culture of the agency and will strengthen team continuity, making everyone feel increasingly committed to and engaged with the success of the business going forward.”
Karen Green added: “We did consider a sale to a third party but rejected that very quickly as it would undoubtedly have disrupted the way we work and may have jeopardised our culture and, importantly, the employment of our people.”
With offices in Glasgow and Inverness, the agency’s creative team includes design, brand, marketing and web experts.
Carole Leslie, founder of Ownership Associates, which facilitated the move, said: “Dynam is exactly the type of business we are seeing increasingly move towards the employee ownership (EO) model. They are successful, with a strong, loyal, core team in place, and have a reputation for being a great employer – with choosing to set up an EOT further evidence of that.
“Dynam are not alone in seeing the attractions of EO. The UK EO sector has more than doubled since 2020, with research showing that EO businesses perform better than other businesses during the recession, are more innovative and productive, and are healthier and happier workplaces with increased staff retention who are more prepared to take a long term view of business development.”