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2007 News:
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LAURA'S NO BIMBO
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January 2007
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Relay high-flier graduates with £1/4m
The first graduate of Relay Recruitment’s combined staff development and stakeholding programme, Laura Cousins, has been awarded equity in the company worth over quarter of a million pounds.
A Relay player for three years, Laura has progressed from commercial consultant to group role with equity via an exhaustive Executive Development Programme, designed to channel drive and ambition, together with generous share allocation - the platform for a planned Buy In Management Buy Out.
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Said managing director, Steven Street: “We want not only to attract the best human resources professionals in the region, but to retain them as well. That means having in place mechanisms for advancement, reward and recognition that rival much larger organisations.
”Laura Cousins’ progress shows that Relay can deliver professional advancement and very attractive financial returns for hard work and enthusiasm.”
The value of Laura’s 2.5 per cent shareholding in the West and North Yorkshire group is projected to increase in value over upcoming years and will be tax exempt if she retains the equity for more than two.
She said: “I have been given a vehicle to develop myself in a way that other recruiters of a similar size are just not offering. The Relay model offers me short term income in the form of salary; medium term income through performance related pay; and long term capital value from my shareholding.”
According to Steven Street, the development and stakeholding scheme is there to instil a proprietary mindset among employees from desk level upwards. He added: “It is an opportunity to make the mental and practical adjustment to that of someone running their own business – which is what they will be doing, eventually - as the process will see a shift of ownership to all staff who successfully participate.”
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The budding owner mangers work towards a five-year horizon, during which a series of performance triggers sees them rewarded with training options and a growing profit-share through a formal Enterprise Management Initiative.
Newly promoted to group business manager, Laura’s development continues apace, having just started an IOD training course.
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