JTC has completed the distribution of a multimillion-pound shared ownership equity award to more than 1,300 employees globally as the firm further reinforces its commitment to a shared ownership culture.
Last year it was announced that JTC had awarded c. £20m in value of shares to employees in recognition of the performance of the business over the past three years and, under the terms of its Employee Incentive Plan (EIP). The EIP award was made in two equal tranches, the second tranche vesting on 22 July 2022. Awards were made to JTC employees at all levels, excluding the Executive and Non-Executive Directors.
At the same time, JTC has also underlined its commitment to a shared ownership model by introducing an EIP award of shares to all new permanent employees, following the successful completion of the required probationary period. More than 300 new joiners, backdated to July 2021 when the first EIP award was made, will benefit this year.
JTC’s ‘Ownership for All’ model – where every employee is an owner of the business – is now in its 25th year, with more than £350m of value having been created for employee-owners so far. Designed to recognise and reward the long-term performance of the whole business, the latest EIP award – the third in JTC’s history – is linked to the most recent business plan, known as the ‘Odyssey’ era, which spanned from 2018 to 2020. During this time, the Group delivered strong financial performance including:
- A successful listing on the London Stock Exchange in March 2018
- +92% increase in revenue
- +132% increase in profit
- £406.7m lifetime value of new business won
- +9 acquisitions
- +9 new offices
- +550 new colleagues
- Entry to the FTSE 250 index in December 2020
JTC’s current ‘Galaxy’ era multi-year business plan aims to double the size of the business – in terms of revenue and underlying EBITDA – from the position the Group achieved at the end of 2020 and good progress has been made towards this goal in 2021 and the first half of 2022.
Shared ownership for all employees lies at the heart of JTC’s culture and, as one of the first professional services firms to recognise the importance of employee shared ownership in attracting and retaining high quality people, is a key differentiator in the market.
Nigel Le Quesne, CEO of JTC, said:
“I am absolutely delighted that the second tranche of the Odyssey era Shared Ownership award has now vested, and to also announce the further expansion of our Shared Ownership programme to those just starting their journey with JTC. These milestones reflect the importance and pivotal role of Shared Ownership in our culture. Ultimately, JTC belongs to all of us, and it will be the spirit and power of Shared Ownership that will continue to drive our success and determine just how quickly we are able to reach our Galaxy era goals. It’s an ongoing journey that I am excited and proud to be sharing with everyone.”
