The Worcester-based software company, which was set up in 2001 by Jamie Turner and Guy Mucklow, has grown to become one of the leading providers of address management services with over 10,000 international customers including Tesco, Oxfam and Harvey Nichols.
To encourage wider ownership in the business, the two founders have taken advantage of the Enterprise Management Incentive Scheme (EMI) to give all Postcode Anywhere employees a share of up to 10% of the company.
The owners decided to become employee owned in order to recognise the significant contribution that their colleagues made to the value of the business and to also create a culture where everyone can benefit from their future success.
As Guy Mucklow explains: “The ability to attract and retain talented people is one of the most significant reasons behind the success of a software company like Postcode Anywhere. It’s the difference between us being an average company or one that is constantly pushing the boundaries and challenging the way that our industry works.
“Both Jamie and I are very keen to ensure that we have the best talent and that we do our utmost to share our success. As a shareholder in the company, I am also hoping that my colleagues will treat the business like it’s their own and very much feel as though they are invested in its future.
“Business owners have a level of passion and commitment to their businesses which is hard to find in other types of enterprise. This connection to the business is why employee owned enterprises have faster growth rates, happier customers and are ultimately more profitable than those which are not.”
Mucklow and his executive team have set themselves a ‘tough challenge’ in that they hope to grow revenue by 50 per cent over the next five years with the help of Triggar, a big data and analytics platform the firm will be releasing in the next few months.
Iain Hasdell, Chief Executive of the EOA commented: “We welcome the news of another successful transition to employee ownership at Postcode Anywhere, joining a sector worth £30bn to UK GDP.
“This is another example of business owners continuing to recognise the benefits that employee ownership can deliver as they plan their succession or growth plans- including higher levels of productivity, resilience and employee wellbeing.”