Recruiters become employee-led after £1.2m investment
Recruitment specialist SF Recruitment has completed a £1.2m investment which will make its management team become owners in the business - as well as every employee being given a stake in the future profits of the company.
The investment sees CEO Saira Demmer - alongside the management team made up of Rebecca Parnell, Damien Lewis, Dominic Syalon, Mike Lattimer and Joanne Eaton - become shareholders.
Having played an instrumental role in developing SF Recruitment into a market-leading position, the leadership team will take on a more significant role in the future direction and strategy of the company.
SF Recruitment - a patron of Greater Birmingham Chambers of Commerce - has also announced the introduction of the SF Ownership Scheme, where every employee shares in the future profits of the company regardless of job title, seniority or tenure.
These moves complete SF Recruitment 's shift to a more employee-centric model, where the business is led by, and for, its people and is inspired by the employee-partnership model at businesses like John Lewis and The Co-op.
CEO Saira Demmer said: “It was important to us to put our money where our mouth is and give our people real ownership and a stake in our collective success.
“We are on a mission to build a business full of brilliant people and we want to reward the contribution each of these individuals makes through more than just standard remuneration models. ”
As part of the changes, SF Recruitment will continue to be backed by James Caan 's private equity house, Hamilton Bradshaw.
Mr Caan said: “As a business, SF Recruitment continues to go from strength to strength, and I am very excited about its future under this talented management team. ”
SF has also announced a number of changes to its employee proposition with the launch of The SF Experience - a fully-flexible way of working that gives employees the autonomy to choose where, when and how they work.
Earlier this year, the company also invested £250,000 in a triple office relocation to champion flexible working.
It was named among the top 20 best small companies to work for in the UK for a second successive year in the 2021 Best Companies rankings.
The Chamber 's chief executive Henrietta Brealey praised SF Recruitment for its people-first approach.
She said: “This is a fantastic example of a Chamber Patron leading the way in investing in their teams. I 've seen first-hand that SF Recruitment take a very genuine approach to developing people and relationships as part of delivering the best possible service to their clients.
“This is another very visible sign of that commitment. I am delighted to wish the team all the best on this exciting next phase in SF 's journey. ”
Pictured: SF Recruitment leadership team (l to r) - Saira Demmer, Damien Lewis, Rebecca Parnell, Dominic Syalon, Joanne Eaton and Mike Lattimer