Belbin marks one year as an Employee Owned Trust (EOT)
Celebrating the first year as an Employee Owned Trust
Cambridge-based Belbin, provider of the globally trusted gold-standard tool for developing high performing teams, marked the first anniversary of its successful transition to EOT (Employee Owned Trust) status.
Becoming an EOT on 1st October 2022 was a significant landmark in the company's 35-year history. It has proved to be a prudent move as the company has built upon the advantages its new status has provided over the last 12 months.
Managing Director, Jo Keeler said: "Making the move to become an EOT felt like a very natural progression for Belbin. Over the last 12 months the whole team has really pulled together to make it a reality. We’ve all learned a lot through the process as well. Having successfully navigated our first year as an EOT we are excited to be making plans to continue consolidating the benefits it has brought the company as a whole."
Why transition to EOT status?
EOT status is gaining traction in the UK as companies look to gain from the benefits it has to offer both organisations and employees through a new flexible form of ownership that can work in a variety of business activities. According to the Employee Ownership Association (EOA), the year 2022 - when Belbin made the transition - saw a 37% increase in the number of recorded EOTs. As of June 2023, there were a reported 1,418 EOTs in the UK. *
Over the last 12 months the Belbin team has expanded, Belbin reports have been translated into further languages, its customer base has continued to grow, and the business has established some exciting new partnerships.
Nigel Belbin, Trustee, said: "We are all delighted with the way in which Jo and the team have made the move to this new way of working with both the new opportunities and responsibilities that an EOT structure brings. We have total confidence that the Belbin brand, and legacy, is in safe hands. The future looks bright for both Belbin and all the customers Belbin supports worldwide."
A globally used team tool
Belbin Team Roles is synonymous with identifying and understanding the strengths individuals can bring to a team, and how those useful behaviours can be managed on a practical basis to develop effective teams. Belbin is used across the globe in 100+ countries and the suite of Belbin reports has been translated into over 25 languages.
The universal language of Belbin Team Roles evolved from years of robust and comprehensive industrial research in live team settings led by Dr Meredith Belbin, beginning in the 1970s. Research continues providing essential knowledge, understanding and solutions for the challenges which companies face in the continually changing business environment.
Dr Meredith Belbin, now 97 years of age, who founded the company in Cambridge with his wife and son in 1987, remains as Patron.