Marketing agency boss to hand 20 per cent of personal stake to staff
The boss of a marketing agency in Wiltshire has announced he is giving away a fifth of the business to his staff.
Jake Jeffries, the owner of Chippenham based Milk and Tweed, is giving staff a stake in the business.
The 35-year-old has launched an Enterprise Management Initiative which will entitle staff to shares in the 20-year-old Chippenham company.
He has put 20 per cent of his own shares into the scheme to be divided among staff who qualify.
Three members of senior staff will be the first to benefit but Jeffries said the scheme will be open to all staff.
“When someone has given five years’ service they could qualify, or it could be an incentive for excellent performance,” he said.
“Having someone in a junior role who qualifies for the scheme is a great incentive for everyone because it shows the rewards are not just there for senior staff, that’s not what it is about.”
Jeffries, who bought out web design partner Boson Media in 2021, said he has been thinking about introducing the scheme for a while.
“It’s been on my mind ever since I took on the business,” he said. “Throughout my career I have wanted to be involved in the companies I have worked at. I have always felt invested in their success.
He believes having the share incentive will be good for the agency’s culture and help with staff retention.
The agency, which specialises in website, brand and logo design and digital marketing, now has 14 employees.
Jefferies said: “We have been fortunate to bring on board a broad range of fantastic clients from all over Wiltshire and across the country over the past year and a great deal of that success is down to our team and the way they embrace our focus on quality and customer service.
“If we were to sell up in ten or 15 years there would be a lot of us celebrating rather than just me
For further details contact Gary Lawrence of Meadow Communications on 07866 422308 or firstname.lastname@example.org.