Beloved Homecare Becomes an Employee Ownership Trust

We are very excited to announce that Beloved Homecare has recently transitioned to Employee Ownership Trust (EOT). This unique structure was introduced by the Government back in 2014, yet only approximately 1,000 UK businesses are EOTs and now Beloved Homecare is one of them. Contrary to popular belief, this isn’t a tax strategy and being an EOT offers several unique benefits to our care team.

 There’s no denying that it has been a very difficult few years for the care industry, yet quality home care services are still in high demand. We are reliant on our dedicated carers to continue providing care in the community and we have always been passionate about giving back to our team through different perks, but now our carers can directly benefit from the future success of Beloved Homecare. You won’t notice much of a difference in day-to-day operations, but you should notice a difference in your bank account.

 Whether you’re already a member of the Beloved Homecare team or you’re considering applying for private care jobs in Manchester, here’s some information about what becoming an Employee Ownership Trust really means for our team of carers.

What is an Employee Ownership Trust?

An Employee Ownership Trust (EOT) is a revolutionary model of company ownership. It involves transferring shares in a company to a trust for the benefit of employees. Since it was introduced, over 180,000 employee-owners have benefited from this model and well-known businesses like John Lewis Partnership have adopted this unique structure.

So, instead of simply working for Beloved Homecare, carers will now be beneficiaries and receive benefits from the EOT.

So, What Does This Mean for Employees?

For our employees at Beloved Homecare, the transition to an Employee Ownership Trust is a significant milestone. Employees with at least 12 months of service will become beneficiaries and have a stake in 60% of the company’s shares. It also ensures that the control of Beloved Homecare remains steady and unaffected by things such as retirement or changes in the circumstances of selling shareholders.

It’s important to note that this transition doesn’t impact the day-to-day aspects of a carer’s job role. Jobs, responsibilities and salaries remain unchanged, and you don’t have to make any financial contributions to become a beneficiary of the EOT. The main focus of this change is to create a more inclusive and equitable workplace, where the efforts and loyalty of all employees are recognised and rewarded.

One of the most attractive aspects of being part of an EOT is the potential for beneficiaries to receive annual tax-free bonuses. Ultimately, the more successful Beloved Homecare is throughout the year, the more employees will receive. To ensure any bonuses are fair for all employees, they will be determined by factors like length of service and annual salary. We are looking forward to sharing our success with our carers who work tirelessly all year round to provide dependable care to our clients.

 Apply for Care Jobs in Manchester with Beloved Homecare

Our transition to an Employee Ownership Trust marks a significant step in the evolution of the company. It reflects our deep-rooted belief in the value of our employees and we know that the ongoing success of Beloved Homecare is a testament to the hard work and dedication of our team of carers. As the private care sector faces growing challenges, we will continue to support our employees and ensure we provide outstanding care to our clients. We are very excited about what 2024 has in store for Beloved Homecare.

If you would like to find out more about the private care jobs we have available, don’t hesitate to contact us today. With both part-time and full-time positions, and a variety of working hours to choose from, we have something for anyone with a compassionate and caring nature. You can apply directly via our website and we will get back to you as soon as possible.