Yorkshire firm has announced that its staff will each receive a £4,000 bonus after a successful trading year.

Ison Harrison, which became 100% employee-owned in 2022, posted turnover of more than £22m last year – an annual increase of 16%.

The firm’s board of trustees opted to award each qualifying employee a tax-free payment of £4,000 – up from £3,600 last year. All employees who have been with Ison Harrison for at least a year are eligible for the bonus.

Managing director Jonathan Wearing said: ‘Distributing an increased bonus to our employees beyond year one’s payment reflects the drive and dedication shown by everyone throughout the year and is a true demonstration of the motivation that employee ownership can bring.

‘Everyone contributed to delivering a record year for the firm last year which has put us in a great position to ensure that the coming year will be equally, if not more, successful and eventful.’

During 2023, the firm’s commercial division revenue doubled to £2.7m, while the legal aid team brought in £2.5m and secured a new CAPA (Claims Against Public Authorities) contract.

Ison Harrison, which has 270 staff, opened its 18th office, in Doncaster, and will soon establish a new base in Queensbury, Bradford.

The firm was one of the first firms to embrace employee ownership when its three main shareholder directors sold the business to an employee ownership trust.

Wearing said the move has provided a flexible structure giving a platform for growth, attracting talent and incentives for existing staff to stay.

‘Switching to employee ownership has had a big impact on the way we do business and how we engage with our staff which in turn has boosted financial performance,’ added Wearing. ‘The switch has been a resoundingly positive move for every single employee of the firm. Everyone now has a tangible stake in the success of the business and can share in future success and profits, just as they did last year.’

 

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