Question
Case Study: Loch Fyne Oyster is an example of a very successful company that is owned by its employees. Based at the head of Loch
Case Study: Loch Fyne Oyster is an example of a very successful company that is owned by its employees. Based at the head of Loch Fyne in Argyll, the company runs the largest oyster farm in the UK, a smokehouse for the processing of salmon, a world famous restaurant and a shop. Products are sold to the retailers, hotels and restaurants in 22 countries. . The company employees 120 people and has a turnover of 11 million pounds. It was founded in 1977 by a local landowner and a biologist, Johnnie Noble and Andy Lane, who built it up steadily over 25 years. In 2003, suddenly the company needed an injection of funds. It was put on the market. The company would have been taken over by a large corporation had Andy Lane not found a way of securing the necessary funds while also transferring ownership to the employees.
This was achieved by entering into an agreement with the Baxi trust which invested 2 million pounds to buy 50% of the shares, with a promise of a 7 % return for 15 years. The shares are held in an employee trust. Each year a number is purchased using the companys profits and distributed among staff with more than 3 years service. No one is permitted to own more than 5% of the company. Lyne Fyne Oyster is run like any other company, except that there is necessarily more emphasis placed on communicating, consulting and involving employees in decision making. Openness with staff, together with increased development opportunities, has led to improved customer services, increased staff morale and a substantial improvement in productivity.
Question
Identify the possible interventions from the case above that might help improve engagement within organization that may lead towards improved productivity
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