Our expectations and experience of the EOT process
I’ve been at Jephsons for over 30 years, so I know it from its early days right to where it is now. When you’ve worked with Jephsons, you are answerable to somebody, but you’re also your own boss. An EOT makes you look at things slightly differently from a business management point of view, but the actual work element is not really different, because we did that anyway.
As a management team, we have largely been left to our own devices. We were making the key decisions – the owners trust us.
He [the previous owner] is still there to counsel us. If we’re struggling with something, he is a sounding board. But we are now in charge of our own destiny more than we have ever been. We know we can push this business forwards and bring the people with us.
This type of arrangement is obviously designed to get buy in from everybody. I think we’ll see the real push there when they start to see bonuses. That’s when we’ll start to see people thinking “they weren’t just spinning us a line, this benefits all of us!”