Sharing Ownership, Seeing Success
A UK law firm feels the positive effects of investing in employees
In Brief: UK Law firm Hudgell Solicitors transitioned to an EOT last year and has enjoyed positive financial results
The Transition: Hudgell Solicitors, founded in 1997 by Neil Hudgell and now operating in more than three cities, has recently transitioned to an EOT model. In late 2023 the firm opted to transfer a majority of the firm’s shares to an EOT. Hudgell Solicitors marketed the transition as just one facet of their three year model, where they hope to “future proof” the business and continue to focus on “right wrongs for everybody, not just those who can afford it” according to Rachel DiClemente, the firm’s chief executive.
The Impact: In the past year, Hudgell has seen significant year-on-year growth of seven percent, which they mainly attribute to having “invested heavily in [their] people.” In fact, the firm timed the transition to an EOT in order to best benefit their employees so that all could share in the firm’s recent successes. As DiClemente explained, “We tried to manage that timing to enable our new employee owners to benefit from expected future growth.” That growth has continued into the new year, with the firm having a “palabale buzz of energy” since the recent transition. In the next few years they hope to continue to diversify and consider acquisitions all while making reasonable, responsible decisions and following where their clients lead them.
Go Deeper: Check out the original article here.