TVD Group Celebrates First Employee Ownership Day 2023
At TVD Group we recently celebrated our first ever Employee Ownership Day on Friday 23rd June 2023, we celebrated the company shift to majority employee ownership with a company-wide celebration day and a sneak preview of our impressive soon-to-launch AV showroom.
Earlier this year we transitioned to employee ownership after being a family-owned business for nearly 30 years! We celebrated with a company wide celebration on EO day which entailed a preview of the newly constructed AV showroom along with games, quizzes and food and drinks! The event was supported by some of our key suppliers and partners, including Advantech, Midwich, Exertis, B-Tech and Philips, as well as Platinum Event Partner, Samsung.
At TVD we now have over 50 people as part of our team, that are now co-owners of the company! We support local events and charities as well as Bolton Wanderers FC, and we also try to use local suppliers wherever possible.
“TVD Group has gone from strength to strength based on our commitment to customer service, our team, and the local Bolton community,” comments TVD Managing Director, Lucia Maguire.
“The transition to majority employee ownership is a natural extension of our commitment to our employees, the area, and the business. Employee ownership has been shown to improve employee engagement, boost productivity and fuel progress, and will enable the business to continue to grow and flourish in Bolton long into the future.”
Employee Ownership Day brought our employees together from every department of TVD Group to network, exchange ideas, and celebrate shared ownership! The ‘team’ feeling was enhanced by ‘Co-Owner’ T-shirts, games and presentations about different departments and processes to enable staff to understand every aspect of the business. TVD’s local heritage and family values of customer service which have underpinned three decades of growth were set out as key business drivers into the future!
Employees were also given a tour of TVD Group’s soon-to-be-opened AV showroom, set to be one of the most impressive TV and audio demonstration facilities for the AV trade in the North West. The newly developed facility houses a full display of everything from Hospitality TV and Large Format Displays to the attention-grabbing Samsung ‘The Wall’ MicroLED display. Not to forget, our Mitchell & Brown consumer TV range, including its latest 4K UHD QLED smart TVs.
The day rounded off with a company-wide evening event at a local venue as we continued the celebrations.
“The EO day is another milestone in TVD’s development,” adds Lucia. “It cemented the new financial and ownership structure, as well as our core values, with the very people now fully responsible for taking the business forward – its new majority owners; TVD Staff.”
“We have had a very positive reaction from our new co-owners. Employees are already thinking about the business differently which has prompted some great questions and suggestions. We can already see evidence of co-owners driving efficiencies, particularly through cost savings in the business. There is a greater sense of shared goals through higher levels of transparency and engagement, and this will help us to continue our sustainable growth into the future,” adds Lucia.
Employees who have been with the company for 12 months or longer are then eligible to become co-owner of the business. The employee trust holds 51% of the employee shares with the other 49% remaining with the Brown family. To facilitate a good flow of communication, co-owners from across the business have volunteered to join the EBT Committee, which meets quarterly to review financial performance and discuss any issues arising, as well as suggestions and ideas that have been raised.