Revolutionising Employee Ownership in a Digital First World
Transforming the process of employee ownership online can bring a host of benefits to employees and business owners. In a digitally led world, leveraging technology and AI will not only enhance efficiency and accessibility but also drastically scale small to medium sized businesses (SMEs) transition to employee co-ownership.
Here’s why we’ve taken an online approach to the process:
Simplicity and Speed: The most important benefit to any SME will be the simplicity and speed of the process online. The flexibility to transition in the office or holiday - any time, any place. Notifications, announcements, and messages can also be sent in real-time and there will be no need for physical meetings. This will become especially valuable when discussing important matters, needing quick answers or voting on decisions.
Scalability: As more employees and businesses understand the benefits of employee co-ownership and efficiencies of the portal, the platform can easily adapt to accommodate more members and their associated data. With 600m SMEs globally this is an extremely exciting prospect.
Cost Efficiencies: An online portal not only streamlines administrative tasks it also reduces human resource, physical meetings, document storage and adapts based on learnt behaviour resulting in huge cost savings and fewer errors.
Accessibility and Inclusivity: Being online makes it easier for employees and business owners to participate anywhere, especially in geographically dispersed organisations. Remote workers can also be actively involved in the process without the need for physical meetings.
Security: Any online platform will prioritise data security, encryption, and access controls to protect sensitive information, reducing the risk of data breaches or unauthorised access. Storing important legal documents, agreements, meeting minutes, and financial records online in this secure manner also helps ensure that crucial information is protected and easily accessible when needed.
Data Analytics: Once scaled analytics into SMEs can help make data-driven decisions, identify trends, and transform the way employee co-ownership is handled in the future.
Environmental Sustainability: Conducting the process online reduces the need for paper and travel, making it a more environmentally friendly choice, aligning with sustainable business practices.
By embracing a digital approach, employee ownership becomes more adaptable, scalable, and accessible. This combination of technology and co-ownership can create a powerful framework for a successful and socially responsible business model.