EOA Conference 2023
Itec Training Solutions was founded 40 years ago and now operates across 19 sites in Wales and England, employing over 220 staff directly. We are proud to be one of the most vocationally diverse independent training providers, working with individuals and employers in delivering apprenticeships, youth and adult employability programmes and commercial training opportunities. Ultimately, our goal is to make a significant positive impact in people’s lives and assist them with reaching their full potential.
What being a 100% Employee-Owned Trust means to Itec
In 2019, as part of our ongoing strategy to place our people at the centre of our business and to preserve the company as an independent organisation, we transitioned to a 100% EOT business model, the move for us felt very organic as we always viewed Itec as a team and a people-oriented business.
The adoption of an employee ownership structure has empowered us to reinforce our commitment to a workforce-centric philosophy while ensuring the safeguarding of our independence, placing the destiny of the company securely in the hands of those who share the founders’ values, ethos, and visions.
Employee ownership models have grown in the business marketplace quite substantially over the last couple of years. There’s a lot of research that suggests that employee-owned businesses have better performance, better experiences, and are more robust and more resilient to the marketplace. Putting an organisation in the hands of employees fosters a stronger commitment and dedication across the business. Employees within an EOT organisation typically experience higher levels of engagement, as they have an influence on the company’s prosperity and can take pride in their achievements.
What is next for us on our EO journey?
Embedding the EOT model is a continuous yet exciting journey, we are always seeking to learn from other EO businesses and to educate our employees around what it means to have that personalisation within the organisation and how their work contributes and benefits the wider business.
We recognise that all our employees play a part in the success of our business, through helping each other, working with innovation, and combining skills for the benefit of the business. We aim for our employees to actively participate that will lead us to impact more lives and create meaningful change.
Our goals for the future are to maintain and build on our people-centred culture and be the place that people aspire to come and work for. Ultimately, our main goal is to continue to successfully deliver our contracts, as they make such difference to people’s lives in the communities that we work in.