Employee-owned electrical contractor awards extra shares

Employee-owned electrical contractor awards extra shares

Lincolnshire-based electrical and maintenance contractor, Brook & Mayo is awarding its entire team £22,000 worth of shares in the company.

The company has been employee-owned since 2016, with each employee being a shareholder, receiving dividends each year and sharing ownership over the business.

Now, the company is gifting each employee additional shares, worth around £500 per person.

Managing Director Darren Sewell says the share award is in recognition of the team’s hard work which has contributed to the company’s success. He said:

“Brook & Mayo has been employee-owned since 2016 and the benefits are immense, and we’ve seen them all the way across the business.

“To mark Employee Ownership Day, we are doing a free share award for all of our employees. Everyone on the team is going to get shares to value of approximately £500 so, for the company it’s an investment of around £22,000 for our employees.

“It’s just a way of thanking the team for their amazing efforts in the last year and also helping them to share in our prosperity moving forward.”

Natalie Snook, an administrator at Brook & Mayo joined the company shortly before the employee ownership structure was introduced. She said:

“It’s fantastic news that will benefit all of us as it means the dividends that we get at the end of each year should be higher. Being a shareholder in the company gives you extra motivation to help the company do well. It also helps to keep morale high because we’re all striving for the same thing; for the business to do well because you have an investment in its future.”

Apprentice electrician Owen Wilkinson joined Brook & Mayo seven months ago and has recently bought his first shares in the business on top of the £500 in shares that he has now been awarded. He said:

“As of now, I am a Brook & Mayo shareholder. It makes me feel honoured to be working for the company and I feel more incentivised to do my best for everyone here. It shows that they care about you and your colleagues, and makes you feel like part of the company”

Meanwhile, electrician, Joshua Grummitt said:

“Having a stake in the business means you’re always mindful of working as efficiently as possible and keeping waste to a minimum. You get a great sense of pride from it as well, especially when you tell anyone like your friends and family. It means we get an insight into the company, how it’s going and you feel more secure in your position and your future with the company. And having an additional £500 worth of shares is fantastic – who wouldn’t be happy about that!”

Brook & Mayo was established in 1969 and carries out the design, installation and commissioning of industrial, commercial and residential electrical installations throughout the Midlands and the rest of the UK. In the last year, the company’s turnover has risen 48% to £7.3m.

For more information about Brook & Mayo, click here

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