Coastal celebrates the EO Effect
Staff at Coastal Recycling are delighted to be part of the UK Employee Ownership Day (EO Day), run by the Employee Ownership Association (EOA) on Friday 23rd June 2023.
We’re taking part in this year’s EO Day, which has the theme of #TheEOeffect, to showcase the impact employee ownership has on employees, business, the wider economy, communities and the environment.
It’s two years since 100% of Coastal Recycling’s shares were transferred to the staff via an Employee Ownership Trust.
UK employee-owned companies operate in a range of sectors and contribute to over £30 billion of the UK economy annually. Alongside this, EO encourages greater productivity, creativity and job security across the organisation. We are proud to be one of around 1,030 businesses in the UK to become employee-owned. The day was be celebrated with a series of events and competitions at our sites and offices.
People and Communication Manager, Beth Kelly said: “It’s been a steep learning curve for all the co-owners at Coastal. Embedding a culture of openness and transparency isn’t something that happens overnight but there’s definitely been a shift in the last year as the benefits of employee ownership have started to bed in”.
“There’s still a long way to go but we must be doing something right, we’ve had a 28% reduction in staff turnover since becoming employee-owned and its helped us get recognised externally by the winning 3 awards this year.”
Staff at Coastal Recycling are delighted to be part of the UK Employee Ownership Day