Meet Libby – supporting business owners to transition to EO
Who knew there were quite so many EO companies doing quite so many different things – offering everything from fudge, soap and metal fastenings to healthcare, legal services and tech?
For Associate Libby Unsworth, the sheer variety of the EO sector adds ‘life and spice’ to her day.
‘As someone with a largely retail EO background, I’ve been amazed,’ she says. ‘But big or small, whatever they do, each one shares a passion for their different model. EO businesses are good people to work with too.’
Libby has been supporting JGA and our clients since 2014, having previously been part of the UK’s largest employee-owned business for more than 25 years.
Although her background is primarily in embedding the culture and value of EO with leaders, employees and teams, she is increasingly supporting our work to prepare founder/owners for a successful transition to EO.
Supporting founders and owners to transition
With the UK now in recession, preparing founder/owners for this change is a critical stage because of its role in establishing a strong commercial foundation for the company’s future.
So what does Libby enjoy about this work the most?
‘Helping each founder/owner to get their ducks in a row,’ she reveals. ‘This involves working closely with them – working through their thought processes, why they’ve chosen this path as the next stage for their business, and what they would like their legacy to be.
‘Often, the decision is influenced by the culture of working together that already exists in their organisation, making employee ownership an obvious next step.
‘EO enables founder/owners to maintain that culture in a different ownership model where they no longer bear the full weight of responsibility. I can almost see things falling into place. If they’re not, I can help founder/owners to explore the reasons why and then support them to choose what they want to make happen. That’s very rewarding.’
Unlocking the commercial benefits of EO
As ever, the biggest challenge is ensuring that founder/owners and their leadership teams understand the value of investing their time, energy and resource in embedding EO in their organisation.
This is particularly important in a recession because of the competitive advantage EO can bring.
‘Whatever your size or sector, spending time with your people, making sure they have a basic knowledge and understanding of EO’s commercial benefits, is always time well spent. Communicating how EO can contribute to the success of their business is key.’
‘In my experience, when times are tough, the messages might be hard but EO businesses tend to be honest, kind and show a concern for the individual’
Libby Unsworth, JGA Associate
Showing resilience in a recession
With virtually every business already impacted by the recession, what qualities does Libby think will help EO companies to come through?
‘Stamina and resilience,’ she replies. ‘When times are tough, EO businesses pull together to make difficult decisions. They might have to make people redundant or change working practices, but by pulling together they’ll get the right outcome for the future.’
She identifies clear communication as another key strength.
‘It’s so important that leaders of EO businesses talk to their employee owners so they can ask questions to understand the situation – where the business is coming from, where it’s going to and why.’
As she explains: ‘In my experience, when times are tough, the messages might be hard but EO businesses tend to be honest, kind and show a concern for the individual – especially in SMEs where people feel vested in the company’s success and that their effort is valued.’
Heading out on the road
Libby describes being an Associate as ‘energising, different and fun’ – as reflected in her experience of representing JGA at 2022’s Employee Ownership Association Conference in Liverpool this autumn.
Exploring the event’s EO Product Showcase, she was delighted to discover a Jerba VW campervan and as an owner of a T6.1 (for any aficionados out there), Libby wasted no time getting on board. As you’d expect, she knew exactly where everything should go.
Planning her next trip away is one of the things that motivates (but also distracts) Libby through her working day. Here, she reveals the other four:
Coffee and, if it’s a JGA day, a catch-up with my one of my colleagues.
Variety – both in my work and outside. I volunteer with Citizens Advice and have other interests. I like to be busy.
Moving around, playing golf, getting out on my bike. I can’t sit at a desk for eight hours and, fortunately, that doesn’t often happen.
Right now, feeding the Christmas cake with sherry! It’s not a particularly good-looking one but this is Christmas Cake #2 – I wasn’t happy with the first.
If you’d like to know more about how JGA can support you and your organisation through our Transition, People and Governance services, please get in touch here.