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The judges praised the practice group for leveraging employee ownership (EO) to drive growth and staff satisfaction, protect independence, and champion EO in the veterinary sector.
Pennard Vets, which has eight practices in Kent, says its driving ambition when it took the decision to transfer the business into an employee ownership trust and make its 150-strong team business owners, was to protect its independence and core values.
Pennard Vets has also been eager to spread the word about employee ownership to other veterinary practices.
Matthew Flann, a director from Pennard Vets, said: “Winning this award is a huge coup for our entire industry, who have been searching for ways to secure the future of their independent practices.
"Set against a backdrop of increasing corporatisation of UK veterinary practices, we chose to protect our heritage by becoming an EOT.
“It hasn't been easy, but it has been massively rewarding and our team have passionately bought into their new status as owners, and the results can be seen throughout the practice – from team-led initiatives to the impact on the range of procedures we can now offer to our patients.
"It’s genuinely been transformational and since 2021 we’ve doubled turnover and grown our team by 30%.
"We’ve also welcomed Abbotsley Veterinary Group and Priory Lodge into the group with the two local Kent practices citing our EOT status as a motivating factor for their moves.
“Crucially our EOT structure provided the launchpad to becoming the first veterinary practice in Europe to achieve B-Corp status in 2022, which we see as another step towards becoming the very best practice possible, using input and ideas from our team to provide a better service, give back to our community and protect the environment.
“We’re also determined to make the journey less arduous for other veterinary practices to follow our lead and we regularly hear from practice owners who are exploring becoming EO.
"We’ve established the British Veterinary Employee Owned Association to help guide other practices through the journey of becoming an EOT by networking, attending events and presenting webinars.
"This year we have supported thriving practices to become EO in all parts of the UK, including Arrowfield Vets in Herefordshire, Animal Tails Veterinary Practice in Stirling, Shetland Vets and Cornerstone Veterinary Clinic in Belfast.
“We believe intrinsically in the value of supporting and promoting our team as the best way to grow our business and provide the best possible service to our clients and patients, and that same approach will pay dividends for other veterinary practices. Because of this we fully intend to continue to campaign for the benefits of EO.”
James de le Vingne, CEO of the EOA, said: “Congratulation to Pennard Vets on winning this award.
"The awards recognise businesses and individuals that are delivering great employee ownership. Collectively, great employee owned businesses deliver significant uplift in productivity and performance, outperforming their non-EO counterparts across multiple impacts for employees, society, the environment and the economy.”
Muriel joined Pennard Vets as an office junior on 7th January 1950, when she was 15 years old
She earned a weekly wage of £1 10 shillings, equivalent to £1.50 in today’s money.
Andy Green, a Director at Pennard Vets, said: “Few people in this country have achieved what Muriel has.
"Pennard Vets has been around for over 125 years and Muriel’s journey with us has encompassed a staggering 70 years of that, making her one of only a handful of people in the UK who have completed 70 years with a single employer.
“Muriel is ever-present, reliable, caring, dependable and she makes the best biscuits around.
"She started work at our Sevenoaks practice as a 16-year-old in 1950, when it was just as likely a client would be bringing in a sheep, goat or horse as a dog or cat, and we used loose boxes outside for examinations, treatments isolation and even post-mortems.
“During the subsequent 70 years she was part of the growth in the practice from a single site to multiple sites.
"She was also fantastic at embracing the latest technology as the practice went from handwritten ledgers, double entry bookkeeping and dealing with the terribly difficult to decipher handwritten notes of the vets, to digitalisation, computers, online systems, email, mobile phones and a host of other technological advances.
“Throughout the years her role changed dramatically, and she learned new skills, adapted, and moved with the times, demonstrating our core values of continuous improvement, client focus, compassion and clarity every step of the way.
“When Muriel retired in 2020, sadly lockdown rules denied us the chance for a proper celebration, so we are very pleased to have been able to celebrate together with such a fabulous party.”
Muriel said: “When I started at Pennard Vets, the practice cared for large animals including horses, sheep and cattle on the local farms, but we also had some more unusual clients.
"A special highlight was fielding telephone calls from former Prime Minister, Sir Winston Churchill, who lived at Chartwell country house, near Westerham, in Kent and employed the practice to look after the health of the black swans living on the estate’s lake.
“Two of the biggest changes I saw during my seven decades at the practice were the business giving up farm work to focus on small animal work as dogs and cats became a bigger part of our families, and the transition from my handwritten notes in ledgers to modern computer systems, but I have always embraced change and enjoyed learning new skills.
"I miss everyone at Pennard Vets but will keep in touch and keep baking for them!”
Certified B Corps are companies that meet exceptionally high standards of social and environmental performance, transparency and accountability.
The process examines a company’s full range of processes, from supply chain to charitable giving and employee benefits.
Other well-known names that have achieved B Corp status include Patagonia, The Body Shop, BrewDog, TOMS, Ben and Jerry’s and Innocent Drinks.
Dr Caroline Collins, from Pennard Vets, said: “We’re extremely proud to achieve B Corp status and there’s no doubt that it will be transformational for the business, in the same way that becoming an employment ownership trust has been.
"Being employee owned and socially minded is a huge draw for vets and nurses seeking a change in their career, who want to be part of an organisation where they can have a real say in the running of the practice and make a tangible difference to the environment.
“It also means that we can now make very long-term decisions, that could even take several decades to pay off, which would be very difficult to do in a traditional shareholder business, and that gives our team the authority to always do the right thing.”
IIC is an independent customer experience agency which conducts assessments, develops insights and awards annual accreditations to businesses.
For its accreditations, IIC uses feedback from customers, employees and the management team to assess the customer experience delivered by an organisation.
Customer services manager at Pennard Vets, Collette Rednall, who is also an IIC Ambassador, said: “We are the first in our industry to go through the rigorous process and we are thrilled to achieve a gold award.
“There are just 36 businesses in the UK that have achieved gold status – so this a fabulous achievement for every single one of our 100-strong team.”
In 2021 Pennard Vets became the largest veterinary practice in the world to become employee owned, through an Employee Ownership Trust (EOT), meaning its entire team are now practice owners and shareholders in the business.
The new structure means that all 99 members of Pennard Vets' team, who work across six sites in Kent, are now practice owners and shareholders in the business. This, says the practice, will protect it's independence and 125-year-old core values.
The group celebrated the completion of the employee ownership trust earlier this month at a summer family BBQ and party held at Hadlow Manor Hotel in Tonbridge.
Pennard Vets’ three previous sole directors, comprising of Matthew Flann, Caroline Collins and Andy Green, all worked as vets at the practice for several years before becoming part of the leadership team in 2007, and the trio will all continue to work in the business following the EOT transfer.
Andy said: “Pennard Vets is a special practice that has been a part of the fabric of the local community for 125 years and we want to be here in another 125 years. At a time when many other practices are being taken over by large corporate organisations, we knew that the EOT was the right way to guarantee an independent future for our 99 team members. Although we received plenty of interest and offers from the corporates, it was important to remain true to ourselves and our values.
“It is increasingly difficult for vets to buy into independent practices and the traditional partner progression model no longer works, so after exploring various possibilities, it became clear that the EOT option was ideal for us and protects everything that we stand for.
“Crucially, it also means Pennard Vets won’t be taken over and gives everyone in our team both autonomy and a voice, as well as safeguarding our fundamental core values that are built around compassion, client focus and continually improving everything we do. There’s no doubt this will further enhance the high standard of care that our clients enjoy and is also helping us to grow our team and attract new talent.
“As we expand our practice across Kent, we’re recruiting both vets and nurses. Every new team member becomes an employee owner and can influence the decisions we make for the future of our practice. Our people are helping to shape our employee benefits scheme and influence how we reinvest profits in a forward-thinking practice, that will remain independent. This is proving very attractive to new members of the team, which makes it a really exciting and rewarding time for us.”
Newly appointed vet, Emma Ball, has become one of the first new recruits to benefit from the EOT model after joining the group’s Sevenoaks practice. Emma said: “I initially did work experience at Pennard Vets eight years ago and immediately felt like part of the family. Everyone took the time to make sure I learnt as much as possible, so when I was offered this role, it was an easy decision for me.
“Coming back to the practice has been a fantastic experience and to benefit from the EOT is the icing on the cake. Although lots of people dream of owning their own practice, it’s a very difficult thing to achieve. However, now we’re all stakeholders in the business, it has made our team spirit even stronger and means everyone makes even more effort to make Pennard Vets successful and ensure clients always enjoy the very best level of care.”