Stability, continuity, predictability – they are the three pillars of any successful partnership.
In the channel, smart value-added resellers rightly look for those qualities in the vendors with which they align. After all, how can they place them at the heart of their own offer if they are absent from the wholesale relationship on which they themselves depend?
Assessing their presence can, of course, be a subjective business. Does stability mean long-established? Does continuity mean a roadmap exists but that it is missing disruptive ambition? And is predictability about a dependable yet unexciting future?
Thankfully, there is one lens through which outsiders are able to obtain an all-round effective impression of a potential partner: culture.
So much more so than product functionality, reliability or price, culture – particularly as it relates to its own employees – can be a potent indicator of the other, equally-valuable characteristics of a business: its values.
In short, a vendor which puts its own people at the heart of everything is likely to bring high levels of mutuality, understanding, and support to its partner relationships. And when that happens, it often spells success for all parties.
“Business is ultimately about people – when employees feel valued and part of a team, a culture and a workplace atmosphere is created which can result in a hugely positive ripple effect,” says Stephen Glaister, Channel Development Manager at leading UK-based hosted telephony provider NTA, which has recently announced that it has become an Employee Ownership Trust (EOT); enabling existing and future employees to become part-owners of the company, receive annual bonuses, and benefit from any future sale.
“It fosters a feeling that we are all in it together; driving forward towards the same common aim and knowing that we are only successful as a group if each of us contributes positively. I believe our reseller partners have always known that we are a vendor that brings something extra to the table but I am now certain that they will feel it a lot more.”
EOTs – the largest example of which is the giant retail group John Lewis – were created by the UK Finance Act 2014 to encourage more companies to become employee owned. In the case of NTA, its EOT was set up by majority shareholders Paul White and Charlotte French who founded the business in 2001 and who remain at its helm. Future profits will be used to buy additional shares in the Trust which will fund employee bonus payments and be shared if the business is sold in the future. The existing senior leadership team and all existing employees remain in post and the day-to-day running of the business is unaffected.
“It sends out a hugely positive message to our channel partners,” says Glaister.
“If they didn’t know it already, they can be sure that they are in a relationship with a business that makes sound decisions for the long term. Becoming an EOT speaks to stability, continuity, and predictability.”
“Day-to-day, it’s business usual,” says Cliff Chandler, NTA Head of Sales. “The same brilliant people are still here innovating, serving and supporting our partners and their end user customers but, technically, they own the company now. That validates each and every one of us in an incredibly powerful way. I believe it makes us all feel very differently about our work and that, as a result, our combined output will be enhanced. I have no doubt that that increased energy and enthusiasm will bleed into our partner relationships and that, in turn, their customer relationships will benefit too.”
Indeed, research carried out recently by the Employee Ownership Trust Association – from which member EOTs receive advice and support – showed that employee-owned businesses benefit from an 8-12% increase in productivity.
Add that into the mix and it’s easy to see how EOT reseller partners can also reap the rewards.
To learn more about how NTA can help your and your customers’ businesses adopt, adapt, and improve, visit the website.
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