By Jemma Slingo2021-02-03T11:59:00+00:00
Two more firms have adopted a John Lewis-style business model, transforming employees into part business owners. So far just a handful of practices have made the switch.
Oxfordshire-based Crossland Employment Solicitors is now entirely owned by its employees after all the firm’s shares were placed in an employee ownership trust. The move means all staff members will receive a tax-free bonus of up to £3,600 a year and will become beneficiaries of the Crossland Employee Ownership Trust.
The firm said the change in model will not affect the day-to-day running of the firm and clients will not notice a difference.