Understanding Recruitment Group becomes employee-owned
Award-winning specialist technology software recruitment consultancy Understanding Recruitment Group has formalised its move to an Employee Ownership Trust (EOT), making its staff 60% stakeholders in the business.
This decision has been made to connect the long-term future of the employees with the long-term future of the Group, while also protecting and enhancing the business culture that has been at the core of their success.
The Board of the Understanding Recruitment Group is delighted to announce the completion of the sale of 60% of the business to an Employee Ownership Trust. The transaction is designed to allow employees to take a stake in the business and share in the longer-term growth and financial success, ranging from six to seven-figure payouts.
Understanding Recruitment is based in St. Albans, Hertfordshire and specialises in some of the most highly desirable niche technology sectors including Software Engineering, DevOps and Artificial Intelligence as well as their Understanding Solutions business, specialising in Statement of Work (SoW).
In the US (Boston) the Understanding Recruitment Group operates under Acceler8 Talent, specialising in emerging tech roles across hardware acceleration, software engineering, AI & Machine Learning, and photonics.
The structure of the Board will remain unchanged with Chris Jackson as CEO and Dale Swords as COO.
Chris Jackson, CEO of Understanding Recruitment, comments: “Today’s announcement is without a doubt the most significant and important one in our history. The Board has always been driven by creating an inclusive and rewarding culture and we feel strongly that the EOT will help further boost the already impressive growth performance (currently at over £5m EBITDA) and most importantly give all employees the opportunity to financially benefit from pay-outs ranging from six to seven-figures depending on their length of service and seniority.
“Dale and I could not be prouder of the achievements and incredible performances we have witnessed especially over the past couple of years. The way the business rallied together and fought through the challenges of Covid was inspirational. It made us stronger and more resolute as an organisation and built a foundation for us to go on gaining an even deeper presence within our specialist markets across not only the UK and US but also more recently on a wider global basis.
“I would like to thank Suzy Bolton (CFO) for being a key driver in making this happen along with the other Group Directors as well as Grant Thornton and Osborne Clarke.”