THE co-owners of a top Scottish business have handed ownership of the company to their employees.
The firm’s 16 employees - who Neilson and Green credit with helping make Dynam “one of the most respected creative and digital marketing agencies in the country" - will now have a more effective voice and greater influence in decision-making.
Creative marketing agency Dynam’s joint managing directors Eleanor Neilson and Karen Green have moved to an employee ownership (EO) business model as part of plans to secure the future of the business they have owned for over 20 years.
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The agency has offices in both Glasgow and Inverness.
Speaking about the move, Neilson said: “Karen and I have been considering the future of Dynam for a while.
“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 (EO) 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.”
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.”
The move will see Neilson and Green transfer their shares to an employee ownership trust (EOT) designed to directly benefit current and future employees.
The pair will still manage the day-to-day operations of the business going forward.
Senior account director and part of the Dynam leadership team Fiona Patience said: “This is an exciting new era for Dynam and a great reward for the team.
“We already have a strong leadership team in place under Eleanor and Karen, who have a real input into the business, so day-to-day things will continue as normal.
“However, long term, the EO model lets the team benefit from the company’s continued success and gives everyone a say in the future direction of the company.”
There has been a drive in recent years to boost the number of EO business in Scotland, with former first minister Nicola Sturgeon establishing the Scotland for EO industry group in 2018 in a bid to grow the number of firms from 100 to 500 by 2030.
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Carole Leslie, founder of Ownership Associates, which facilitated the move, said the UK EO sector has “more than doubled” since 2020.
She 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.”
She added that research has shown EO businesses “perform better than others during the recession, are more innovative and productive, and are healthier and happier workplaces with increased staff retention”.
Dynam was established as a full-service agency over 20 years ago.
Now employing a staff of 16, the creative team consists of brand, marketing, design, and web specialists.
The firm has established partnerships with brands both in Scotland and worldwide, such as Mowi, Orion, NatureScot, Highlands and Islands Enterprise and Orkney Harbours.
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