Staff at a Dronfield-based training firm have been handed an opportunity to share in the financial success of the business after its owner sold the company to an Employee Ownership Trust.
Ascento has switched to an employee-owned business model, meaning all 20 employees have been given indirect ownership in the company via the trust.
Previous sole owner Chris Ash will continue to act as Managing Director for the business but its future profits will be shared with staff on a yearly basis.
As outgoing owner, Chris Ash, says “I am excited to step aside as the sole owner and cannot wait for the whole team to share in the next exciting stage of our journey.
“Becoming employee owned means we are stronger together, means we can all share in our successes and means the culture we have strived, and continue to strive, to develop is maintained through a collective spirit and drive”.
Oliver Simpson, Commercial Director explains “Due to the changing nature of business as a direct result of the Covid19 pandemic we have seen an overwhelming increase in demand for our industry leading digital marketing and management apprenticeship qualifications, this is primarily due to the huge migration to remote working over the last year and because of the strong likelihood of this remaining in place for a larger proportion of the workforce than usual, businesses now recognise the urgent need to up-skill their existing staff as the existing management structures need to be adapted and their traditional routes to market have changed.
“We have ambitious growth plans in place for the coming years as we look to cement our place as the leading provider of Digital Marketing and Management apprenticeships in the country”.
While the pandemic resulted in a cessation of in-person learning, with education undergoing significant transformations in virtual classroom courses and on-demand online courses growing in popularity through digital platforms; Ascento has thrived as an online learning and development provider increasing retention and time efficiencies. This has provided flexibility for our staff and learners as well as their employers.
Notably, with a recent wave of high profile model conversions to an employee owned model, including Aardman Animations, Richer Sounds, and Riverford Organic Farmers, the business world is being transformed, refocused and inspired. The positive shift for Ascento in cultural terms shows the company is positively focused on changing lives, empowering people and motivating them in their working lives.
Chris Ash, founder of Ascento Learning and Development, said, ““I am excited to step aside as the sole owner of the company and cannot wait for the whole team to share in the next exciting stage of our journey”.
