Yorkshire pharmacy develops John Lewis style partnership
A South Yorkshire pharmacy has developed a John Lewis style partnership model for its staff in a bid to maintain the company ethos and help sustain the independent sector.
Wicker Pharmacy in Sheffield thinks the model could be copied by other independents as a way of holding onto ownership and preventing them being sold to a "large remote company".
Under the scheme, Wicker, which already has 28 pharmacist shareholders, has established the Wicker Employee Trust which has bought 10 per cent of the company’s shares. Each member of staff has been given a co-ownership certificate, confirming their stake in the company.
The intention is that in the future the trust will increase its share of the company, which in turn will increase the influence staff have on shaping its future.
At the same time, employees will receive an annual dividend along the lines of the profit share system designed for John Lewis staff, Wicker’s managing director Martin Bennett explained.
Citation: The Pharmaceutical Journal DOI: 10.1211/PJ.2013.11116066
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