15 Years of Accord – Meet the Team Series: Sean Elliot

As part of our 15th anniversary celebrations, we’re continuing our Meet the Team series by introducing Sean Elliot, who joined Accord in spring 2024 as an External Trustee to our Employee Ownership Trust (EOT).

Sean brings a wealth of first-hand experience in employee ownership, having led his own business through the transition to 100% employee ownership and serving as Chair before moving into a Non-Executive Director role. He describes employee ownership as “ethical capitalism” – a model that rewards everyone who contributes to a business, not just the founders.

In this Q&A, Sean shares his perspective on Accord’s culture, what makes employee ownership so powerful, and the advice he would give to individuals and businesses considering the model.

Q: Can you tell us a bit about your background and how you came to join Accord and an external trustee?

My background is in corporate IT, but I left that in 2003 to start my own business. I built that company up and, by around 2012, when I was approaching 50, I began thinking about my exit strategy. I’ve always liked to plan ahead.

I actually came across employee ownership almost by accident, but I really liked the idea. In my view, it’s a form of ethical capitalism. Instead of the “build and sell” model we often see in Western countries, employee ownership rewards everyone who puts effort into the business, not just the founders or entrepreneurs.

So, in 2013, my company began its employee ownership journey, and in 2017 we became 100% employee owned. I stepped back a little in 2018, returned in 2020 for a short time, and since then have served as Chair, before more recently moving into a Non-Executive Director role. I feel I’ve now earned my stripes, having been through the employee ownership journey from planning, to transition, to the post-ownership stage.

It’s been great to join Accord as an external trustee – especially as Accord is unusual in having been employee owned from day one. I’m glad to be able to share my experience and support their journey.

Q: Have there been any standout milestones in your time here as an external trustee?

It’s difficult to pinpoint a single milestone, but what stands out to me is being involved with an employee-owned business that is not only doing well, but is also genuinely committed to employee ownership.

Accord is always looking at how to move the business forward in a way that benefits both the employees and the company as a whole. To me, they really epitomise what a successful employee-owned business can be, and I’m very happy to be part of that.

Q: What advice would you give to someone just starting their career?

First of all, you need to be genuinely interested in the line of work. Hopefully that’s already the case if you’re applying for a role. But beyond that, I think it’s important to consider what the employer can offer you.

An employee-owned business has a lot to offer. It can feel more like a family, while still operating like any other business with the right structures in place. The difference is in the culture. If you’ve worked elsewhere, you’ll quickly notice the contrast. In an employee-owned business every employee has a voice and a say in how the company is run - you can share your ideas, and play a part in decision-making. That’s a huge benefit.

Q: What makes Accord’s culture unique?

From what I’ve seen in my time with Accord, they’re touching on all the right aspects of employee ownership. There are the social groups and events outside of work, as well as community donations – every employee has an amount they can contribute towards a charity of their choice.

Importantly, profits aren’t being hived off elsewhere; they’re distributed among the employees, which is exactly what employee ownership is all about. That makes a real difference to people. For me, Accord is doing all the important things that show what a successful employee-owned culture should look like.

Q: How does being Employee-Owned influence the way people work together at Accord?

From what I’ve seen, employee ownership is really embedded in the culture at Accord. It makes people collaborate better because there’s a shared understanding that collective effort brings collective benefit. Of course, we’re all individuals and not every decision can be influenced by everyone. But when it comes to the big decisions, there is consultation.

Another important aspect is that the business can’t be sold behind employees’ backs. If an offer were ever made, the board would first consider it, then the trust, and finally it would go to the employees for a vote. That built-in safeguard is a fundamental part of employee ownership, and it gives people real confidence in the model.

Q: What advice would you give to any business or individual considering employee ownership?

I would encourage people to plan ahead. Don’t leave it until the last minute to think about an exit strategy. Actively look at succession planning years in advance, ideally at least five years. That way, the process feels far less pressured, and if you have a plan, you can work towards it step by step.

I believe employee ownership is something every business owner should at least consider as an option for succession. It might not be right for everyone, but it should certainly be among the options on the table.

There are some excellent resources out there for those who want to learn more, including the Employee Ownership Association, Co-operative Development Scotland and Employee Ownership Scotland. All of these are helpful touch points for anyone exploring the model.

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