Shareholders of one of the country’s largest training providers have handed a majority share of the company to its employees.
HIT Training has joined the likes of John Lewis Partnership in becoming an employee-owned company, one of the first to make the move in the independent training provider sector.
Jill Whittaker, chief executive of HIT Training, said: “This is a decision which allows us to empower all our employers. By selling a significant shareholding to our staff, it means they will be even more incentivised to deliver amazing work which, in turn, benefits our clients and partners.”
To become employee owned, companies place most of their shares in a trust representing its staff. Staff can then take a share of the profits as a bonus, up to £3,600 per year tax free.
