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Dalata Hotel Group leads the way as IPSA Awards recognise increased employee ownership in companies

By June 29, 2017No Comments

Dalata Hotel Group was the big winner last night (Thursday, June 22nd) as companies involved in employee share ownership and Employee Financial Involvement (EFI) were recognised at the Irish ProShare Association Annual Awards in Dublin.

More than 200 people were at The Conrad Hotel in Dublin for the black-tie awards ceremony last night, with organiser IPSA – which advocates for employee financial involvement in companies – paying tribute to the quality of the entrants to this year’s awards.

Dalata was named overall winner on the night, having claimed the awards for Best New Share Plan and the Employee Share Plan Champion of the Year. The hotel group has grown rapidly within Ireland and the UK in recent years, with CEO Pat McCann and the senior management team committing itself to finding a way to enable all employees to share in its success.

Around 15% of Dalata’s employees (305 employees in Ireland and 70 employees in the UK) have opted in to the company’s employee share ownership plans. It is understood that Dalata is the only company in its sector that offers this benefit. The group has said that inviting and encouraging employees to share in the success of their business is a major support of their strategic objective to retain and support succession throughout the group.

Another big winner on the night was George Tuthill, who took the award for ‘Services to Employee Share Ownership’ for his long-standing commitment and support of Employee Share Ownership. George was a key leader of the Bank of Ireland Registry and Employee Share Plans business, and during his career he has played major and leading role in developing and deploy Employee Share Ownership models across corporate Ireland and numerous other European countries. Other winners included:

  • Best International Share Plan WINNER: Global Payments. Advisors/providers: YBS Share Plans.
  • Best Commitment to Employee Share Ownership in a Large Firm (over 251 employees) WINNER:  Pfizer. Advisors/providers: Computershare.
  • Most Effective Communication of an Employee Share Plan WINNER: Provident Financial Group. Advisors/providers: YBS Share Plans.
  • Best Commitment to Employee Ownership in a Small Firm (Less than 250 employees) WINNER: Each & Other.
  • Best Commitment to Employee Ownership in a Large Firm (Less than 251 employees) WINNER: PM Group. Advisors/providers: Global Shares

Speaking at the awards, IPSA CEO Gill Brennan said: “More companies than ever are recognising the huge advantages that come from embracing and implementing employee ownership schemes in their business. This can only be good news for the Irish economy, which benefits from having more motivated and productive employees who because they have a genuine stake in their company’s future, work harder to build more successful companies.

“At IPSA, we continue to make great strides in our efforts to educate the public and the Government on the advantages of share ownership for companies, employees and the economy, and of the need to expand share ownership schemes and make them more accessible for companies of all sizes.”

Lead judge, Gary Boyle said: “We are thrilled to highlight the wonderful achievements and excellent work that many companies across Ireland deliver in pursuit of greater Employee Financial Involvement, and we are confident that the IPSA Awards will become a coveted recognition of fresh thinking, career development and exceptional performance.

“As the Irish economy grows, the opportunity to embrace the power of Employee Share Ownership or Employee Financial Involvement (EFI) has never been greater. No longer a mere concept, the success of EFI as practiced in many economies around the world is now backed up by consistent, overpowering data, and what this data is showing us is something quite simple: EFI works. There is a dramatic, positive impact on business performance when employees become ‘owners’ in the companies where they work. In the UK, for example, employee-owned businesses consistently outperform the growth experienced by FTSE100 companies.”

Ashley Price, Head of YBS Share Plans, said: “The IPSA Awards are a fantastic celebration of the very best employee share ownership schemes in Ireland. I’m delighted that our clients Provident Financial and Global Payments have been recognised for their commitment, dedication and innovation.

“YBS Share Plans reputation is built on more than 36 years’ of trust and we know how important it is to recognise the fantastic benefits of employee share ownership and the continuing importance they can play in company development by giving employees a real stake in their business.”