Employee ownership: our story
In 2016 Stephens Scown became the first large law firm in the UK to give all eligible members of staff an equal share in its profits. In a sector which has traditionally seen partners alone share in the profits, the move has attracted interest from across the UK – and not just from within the legal profession.
Scownership – our employee ownership scheme
Our employee ownership scheme, which we call Scownership, is all about giving everyone who works here a real stake in the business. No matter what role someone has, we are all part of the same team. Everyone’s contribution to the firm is equally important and everyone receives an equal share in the eligible profits.
Coming from all areas of the firm our Scownership trustees act as representatives for all staff, ensuring everyone has a voice. They regularly meet with the Board to give staff feedback, ask questions and raise issues – bringing about meaningful change.
We believe being employee owned is not only great for our employees but that our clients benefit too –with happy and engaged employees delivering better client service.
Helping our clients on their employee ownership journey
Being the first large law firm in the UK to become employee owned and full members of the Employee Ownership Association, we understand first-hand what it takes to make a successful EO transition.
We have learnt a few lessons on the way and have gained further valuable knowledge from working with companies exploring and commencing EO projects alongside building national connections with long-established EO businesses. We understand both the technical aspects of the journey, but perhaps more importantly, the core principles and underlying values that drive the founders who choose employee ownership above all other succession options.
We believe that EO has an important part to play in the future shape of business and it’s our intention to provide the best support to companies taking that journey.
To find out how we can help your business explore the possibility of becoming employee owned, please click here.