Services business Cordant Group all set to become UK’s largest Social Enterprise

Cordant Group – the UK’s second largest recruitment and services business and which includes Cordant Security – has announced its new status as a Social Enterprise. Framed around a five-year plan, in due course the Group will reinvest the majority of its profits into social programmes across education, employment and healthcare, pledging to touch on and improve thousands of lives, one community at a time.

The family-owned business, which boasts revenues of £840 million, employs 125,000 workers annually in security, schools, hospitals, care homes and specialist roles such as engineering. It’s the company’s firm belief that this powerful multi-sector reach can deliver a lasting social impact by direct engagement and redistributing its wealth to a majority – at an individual and society level – not just a minority of shareholders, driven solely by profit.

To illustrate its intent, Cordant Group has already capped all annual shareholder dividends at approximately £250,000 per shareholder family per annum (which, in today’s, terms equates to £3 million), capped all executive salaries at 20 times that of the lowest paid worker on the books and agreed to be independently audited using recognised Social Impact measurements.

Investment for key initiatives

While Cordant Group’s businesses will continue to operate as normal, these changes will enable it to reinvest profits into key initiatives, including:

*a teacher programme being developed by international education expert Richard Gerver to examine the link between the classroom and life/work preparation

*IT platforms offered at zero cost for the healthcare sector, in turn enabling Hospital Trusts to offer shifts directly to doctors and nurses, thereby saving the NHS millions of pounds

*partnerships with key clients focusing on up-skilling and training for the temporary workforce to drive productivity, but also deliver deeper job satisfaction

*the creation of a profit share scheme for staff

*ongoing investment in technology to better connect pupils to apprenticeships, workers to jobs and patients to doctors and carers

Integrity and transparency 

Brendan Musgrove, managing director at Cordant Security, commented: “This type of initiative is the first of its kind for a business like ours and fully reflects the integrity and transparency with which we’ve always operated. We believe it will benefit our colleagues, workers, customers and their related communities, adding further value to our industry-leading solutions.”

Phillip Ullmann, chief energiser for the Cordant Group, added: “Our dream of building a genuine global Social Enterprise that can delight people and improve the lives of thousands of people is now being realised. We believe our teacher programme will change the classroom, our workplace initiatives will re-engage employees and our healthcare ideas will transform patient care.”

Chris Kenneally, CEO of the Cordant Group, concluded: “It’s business as usual at Cordant, but with one key difference – profits will now be used to deliver a broader prosperity, benefiting society as a whole and not just our shareholders. While we believe this is an important moral position given the overwhelming response, we also know it will be positive for our businesses and drive efficiency, productivity and profitability. Our key customers are keen to work and partner with us on a journey that will create deeper relationships and returns.”

About the Author
Brian Sims BA (Hons) Hon FSyI, Editor, Risk UK (Pro-Activ Publications) Beginning his career in professional journalism at The Builder Group in March 1992, Brian was appointed Editor of Security Management Today in November 2000 having spent eight years in engineering journalism across two titles: Building Services Journal and Light & Lighting. In 2005, Brian received the BSIA Chairman’s Award for Promoting The Security Industry and, a year later, the Skills for Security Special Award for an Outstanding Contribution to the Security Business Sector. In 2008, Brian was The Security Institute’s nomination for the Association of Security Consultants’ highly prestigious Imbert Prize and, in 2013, was a nominated finalist for the Institute's George van Schalkwyk Award. An Honorary Fellow of The Security Institute, Brian serves as a Judge for the BSIA’s Security Personnel of the Year Awards and the Securitas Good Customer Award. Between 2008 and 2014, Brian pioneered the use of digital media across the security sector, including webinars and Audio Shows. Brian’s actively involved in 50-plus security groups on LinkedIn and hosts the popular Risk UK Twitter site. Brian is a frequent speaker on the conference circuit. He has organised and chaired conference programmes for both IFSEC International and ASIS International and has been published in the national media. Brian was appointed Editor of Risk UK at Pro-Activ Publications in July 2014 and as Editor of The Paper (Pro-Activ Publications' dedicated business newspaper for security professionals) in September 2015. Brian was appointed Editor of Risk Xtra at Pro-Activ Publications in May 2018.

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