Cornwall’s fastest growing tech company Bluefruit Software is hoping to preserve the culture that has seen its turnover double in the last two years by transferring 51% of the business into an Employee Ownership Trust.
As part of the transition, every member of staff who has been with the software developer for more than three months received a tax-free bonus of up to £1,200. Two non-director trustees have been elected to represent the interests of staff at board level.
Bluefruit Software saw revenue growth of 50% in the year to April 2019 and is on target to reach a turnover of more than £5 million and a headcount of 85 in 2020.
Director Caitlin Gould says employee ownership is an extension of Bluefruit’s people-first policy reflected in the company’s strict policy against working overtime and its provision of weekly yoga classes, free gym membership and six weeks’ paternity leave.
She said: “We’ve cultivated a unique work environment which supports our employees and gives them the space they need to thrive. We have an employee turnover rate of 4%; the tech industry average is 23%.”