Why our EOT status is good news for clients as well as employees

We’re proud to be one of the growing number of companies that’s owned by its employees. Becoming an Employee Ownership Trust (EOT) in 2023 was a change that was great news not just for our team but for our clients.

What is an EOT?

EOTs were introduced by the UK Government in 2014 to encourage ongoing success and a smooth transition of management within small and medium-sized businesses.

By the middle of July 2024, there were over 1,750 EOTs in the UK including Aardman Animations, the John Lewis Partnership, Riverford Organic and Richer Sounds.

On the surface, an EOT sounds like a corporate succession plan with the feelgood factor, and in some ways it is. Even though employees don’t own physical shares in the company, profit is shared and employees take a more hands-on interest while the senior management team remains responsible for managing the business.

Motivated employees

There’s growing evidence that EOTs are likely to be more successful than traditional companies as the employees are more invested in their work. Best of all, research shows that as well as being more motivated, EOT employees are happier too.

Rosanne Chamberlain who’s been an Account Director with us for 10 years said, “We’ve always been a close-knit team that supports one another. Becoming an EOT has given us all confidence that our friendly and supportive culture is protected and that, as time goes on, we’ll become even more personally invested in Milestone’s success.”

Improved client service

It’s no coincidence that a happier team delivers a better client experience. The positive EOT culture translates into elevated engagement and deeper interactions.

EOT employees understand that a thriving client base directly contributes to their own success. This naturally encourages them to deliver value at every opportunity.

Building long-term business relationships

There are other benefits for clients too. As employees have a vested interest in the agency’s future, they are more likely to stay longer than at a non-EOT agency. Low staff turnover helps strengthen client relationships and this continuity helps with the smooth running of the accounts.

Eve Marston, Head of Marketing Communications at RWC, a market leader and manufacturer of water control systems and plumbing solutions, said “Milestone has always been there for us – an extension to our team. The move to an EOT demonstrates their commitment to maintaining their culture and while many agencies have frequent personnel changes, we really value a consistent team that truly understands us and our business.”

Without the pressure of external shareholders pushing for ever-increasing profitability, our team can focus on doing what’s best for our clients. This includes developing strategies with long-term benefits rather than just quick wins. Successful long-term planning helps form lasting business relationships built on mutual trust and understanding.

Marie Giannini, Vice President Communications and Head of Sustainability at Intertek, A FTSE-100 global quality assurance group, said that it’s as much about what hasn’t changed as what has. “I’ve worked in different roles with Milestone for almost 20 years. I love that the EOT means they can keep doing what they’ve been doing for years to come. Stability and confidence in the future of my agencies is vital and this is extra reassuring.”

Here for you. Here for our people.

At the last count, there were over 25,000 marketing agencies in the UK. We wouldn’t expect you to put EOT status at the top of the list of priorities in your search for the right one. But we do think that working with a happy and highly motivated team should be high on your list.

If you’d like to know more about the Milestone difference, please get in touch and we’ll be delighted to introduce you to the team.