Equity is offered to the figureheads of each office within the £15m-turnover company and these leaders work towards obtaining a sizeable stake over a two-year period. “We pay them quarterly dividends on their profits,” Sellick says. “I wanted to offer equity because you get the figurehead to buy into the business. They’re focused on the long term and they have an incentive for the office and the brand to move forward. “It works wonderfully well because they then recruit the right people because they have interest in getting the right people in the right positions.” Sellick Partnership specialises in financial, legal and education recruitment. Sellick established the business in Manchester in 2002 and currently employs approximately 80 people across six offices. There are plans to open another two offices this year. Sellick’s move towards generous compensation is paying off: staff turnover at the company is about 4 per cent. Sellick estimates the industry average to be 25 per cent. He adds: “We pay really good salaries and our compensation structure is fairly generous. I’m in a fortunate position now where I’ll hopefully be comfortable for the rest of my life – I want to give some of that back to my employees.” Related articlesCulture concerns lead entrepreneur away from franchise modelNew office space gives recruitment firm room to grow Picture source
Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.
Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. It is mandatory to procure user consent prior to running these cookies on your website.