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Aberdeen consultancy Aspect becomes 100% employee owned
Aberdeen-based consultancy Aspect: The Strategic Communication Experts has become 100% employee-owned through a new employee ownership trust (EOT).
The announcement, coinciding with Employee Ownership Day, comes after significant growth under the founder and CEO Andrew McCallum. The company’s revenue has increased by more than 250% since recruiting its first employee in 2019, reaching £3.1 million in 2023.
McCallum will remain CEO, with another director on the board Yvonne McCallum continuing to lead the company’s financial, commercial and legal functions. They will work closely with the leadership team – chief digital officer Ewan Duthiemarketing director Jenny Adamscommunications director Leona Minellasand director of public relations and stakeholder engagement Peter Smith.
From its offices in the heart of Aberdeen and on Edinburgh’s Royal Mile, Aspect’s team of 22 staff advises clients across the world in complex, issue-rich sectors, from energy, infrastructure and sustainability to technology, life sciences and economics Natural.
Mr. said: “The success of our business is based on the experience, creativity and energy of our talented people.
“What we have achieved over the past five years would not have been possible without them and I am so grateful for their continued support as I lead the company into this exciting new chapter.
“We are proud to have created an open, collaborative and supportive culture where people can develop and thrive. Becoming an employee-owned company empowers our team to actively shape Aspect’s future and share in its continued growth and success, now and for many years to come.
“From repositioning brands for a net-zero future and setting the policy landscape to unlock sustainable growth, to helping organizations define their purpose and vision and delivering integrated communications, marketing, digital and PR strategies – our work has impact and consequences.
“I believe this unique combination of employee ownership, inclusive culture and purpose-driven work for our ambitious clients creates a platform for the future.”
The Aspect Employee Ownership Trust (EOT) will be chaired by an independent trustee June Boylea highly experienced chairman, non-executive director and executive coach with a successful career spanning roles at bp, RBS, BT, Lloyds Banking Group and most recently Edinburgh Napier University.
Following an internal election process, marketing director Jenny Adams was appointed to the role of employee administrator. Mr. McCallum is the founding trustee.
Ms Boyle, chair of Aspect Employee Ownership Trust, said: “Aspect is an excellent business with a strong team and an impressive client portfolio in the UK and internationally.
“In my experience, companies with a progressive culture, where employees are engaged and involved in the direction of the company, perform better.
“In my role as chairman of the trustee board, I look forward to seeing Aspect grow from strength to strength as an employee-owned company and will work with my fellow trustees to ensure the company continues to develop and grow in the best way possible. interests of employees.”
Since the introduction of EOTs in 2014, employee participation has grown by 90% and there are now more than 1,800 employee-owned businesses in the UK. Research indicates that employee-owned businesses have a positive impact on individuals, communities and the broader economy.
Tom Arthur MSP, Minister for Jobs and Investment, said: “It’s good to see Aspect join the growing list of companies that recognize that employee ownership is good for business as we move towards the Scottish Government’s target of 500 employee ownership by 2030.
“This year’s census of employee-owned businesses showed a 113% increase in turnover for employee-owned businesses compared to 2022, representing a huge £752 million boost to Scotland’s economy.”
James de le Vingne, chief executive of the Employee Ownership Association, said: “It’s great to welcome Aspect to a growing sector that is proudly employee-owned. What a great way to mark EO Day!
“I’m always excited to see Scottish businesses make the transition to worker ownership, helping to meet the country’s ambitious goals to increase the inclusive and democratic impact of its economy.
“I look forward to seeing Aspect deliver greater levels of engagement and representation for its employees and the benefits this will bring to the local community.”
Carole LeslieEmployee ownership specialist at Ownership Associates UK added: “I see more and more companies taking the EOT route and have already completed more transactions in the first half of 2024 than I did in the whole of 2023.
“For many business owners, it is an ideal way to gain value from their business while at the same time rewarding their employees, securing the company for the long-term future. It’s great news for the economy too.
“Research demonstrates that employee-owned companies outperform conventionally structured companies on almost every metric – productivity, profitability, innovation, job satisfaction and customer retention.”
Aspect was advised by Blackadders LLP, Cactus Consultants Limited, Ownership Associates UK and Reference Point Advisory Limited.