Digital marketing agency I-COM is delighted to announce it has become an employee-owned business.
In celebration of its 15-year anniversary, the owners of the Manchester-based agency have established an Employee Ownership Trust (EOT) and transferred a majority stake in the business to staff.
The move comes as I-COM is investing heavily in its Portland Street headquarters, renovating the Grade II-listed building to equip the agency for future growth and provide an inspiring, contemporary space for employees.
Technical Director, Ravi Bhalla, said “We know that our people are the heart of our business and what governs its success. Many of our team have been with us for several years and we felt it only right that they should have a stake in the ongoing success of the business. This heralds the start of a new chapter for I-COM and we look forward to continued growth and success ”
Through the EOT, staff members will share in the profits of the business as long as they remain an employee, and collectively own the majority of the company.
Employees Kate Sherratt, Graham Allchurch and David Walsh will join I-COM’s board as representatives of the trust. Desmond Hudson, formerly CEO of SMG’s Publishing Division and CEO of the Law Society will also join the board as a Non-Executive Director
Managing Director, Mike Blackburn said “The talents of our people are what make us successful as a business. Historically, we’ve always given back some of our profits by way of bonuses, but the EOT makes this a formal commitment to our people.
“In today’s employment market where skilled people are in short supply, giving the team a stake in the company seems like the next logical step to take. We’re sure it will encourage engagement and focus the team on delivering even greater results for our clients.”
I-COM was advised in the transaction by the Manchester offices of law firm JMW and audit, tax and consulting firm RSM.