Digital firm supports workers with new employees ownership initiative

The owner of a digital and IT consultancy has given back to his workers by implementing an employee ownership scheme.

Answer Digital is set to give its 85-strong team ownership in the business through a new employee ownership trust.

Founded 21 years ago by Gary Parlett and his wife Kate Parlett MBE, digital transformation and IT consultancy company that researches, designs, and develops software solutions for companies across a range of sectors.

With offices in Leeds and London, the company works with clients such as the NHS, international retailers and global financial institutions.

The new employee ownership trust has a board that has a direct say over the operation of the business.

Gary Parlett, founder and managing director of Answer Digital, commented: “To support the team and create a platform for what comes next, we have decided to move Answer Digital to employee ownership. It means everyone will have a stake in building a sustainable business that has the freedom to do great work.

“Typically, employee-owned businesses have higher productivity, greater levels of innovation and are more resilient to economic headwinds. The people that work in them are often more engaged, happier in their jobs and less stressed.

“We believe that employee ownership can answer some of the big questions we are facing as a society and an economy. We need to address the balance between work and reward and unite people behind a common purpose.”

Deb Oxley, chief executive of the Employee Ownership Association (EOA) added: “We congratulate Answer on its move to employee ownership – sustaining its values and independence for the longer term.

“Businesses that give employees a stake and a say build trust and shared responsibility, therefore uniting leaders and employees behind a common purpose. This leaves the business in a better position to flex and adapt, key qualities needed to help the UK build back better.”