On the 1st of July 2016 Merlin Energy Resources Ltd became an employee owned company, joining the ranks of other successful employee-owned organisations including John Lewis and ARUP.
Our transition to employee ownership also coincided with Employee Ownership (EO) Day, which is celebrated by organisations across the UK and championed by the Employee Ownership Association.
Merlin recognises that its employees are its most important asset and that employees should be closely involved in determining their company's future. For Merlin Energy, this is a significant and logical development of the principles and ethics that we have always held to be important. It brings those who are focussed on understanding and meeting the needs of our customers into the heart of decision making on our long term goals and how to achieve them. The success of the business depends on our team and they will benefit directly from it.
Merlin Energy's board of directors is now responsible to the Employee Ownership Trust, representing our staff instead of external or private shareholders. Our management has not changed nor has the composition of our various teams.
Employee owned organisations are distinguished by their higher levels of innovation, staff engagement, stability and long term view. Furthermore, evidence shows that employee owned companies are more productive, and resilient; with successive governments lending support to the sector as they recognise the benefits and opportunities that the model brings to the UK economy. Nationally, employee owned companies now account for over £30 billion of GDP annually, and the sector is growing at a rate of approximately 10% per annum.
Merlin Energy would like to thank the following organisations for helping to make employee ownership a reality:
Postlethwaite Employee Ownership Lawyers: www.postlethwaiteco.com
Capital for Colleagues: www.capitalforcolleagues.com
PB Design and Developments Ltd: www.pbdesign.co.uk