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25 September 2018
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Adopting social enterprise status © iStock

14 September 2017 | Herpreet Kaur Grewal

This week the FM services group Cordant Group announced that it was adopting the status of a social enterprise. 

The group's chief executive Chris Kenneally told FM World that the old, traditional model of business was changing and that this was Cordant's way of pioneering a new way of working that would create a “happier and more productive” workforce.


Kenneally argues that Cordant’s move is much more than a CSR box-ticking exercise, and it’s certainly a statement of intent. All annual shareholder dividends are to be capped at approximately £250,000 per shareholder family a year while all executive salaries have been capped at 20 times that of the company's lowest-paid worker. Cordant has also agreed to be independently audited to a range of recognised social impact measurements.


With workplace studies showing that the world of work is becoming more collaborative, and that the millennial generation seeks more flexibility and sense of purpose from jobs, Cordant could be onto something. But will it catch on? What do you think? Might Cordant's move herald a wave of FM service businesses changing their models to become social enterprises?


As ever, we'd like your opinions. Is adoption of social enterprise status little more than crafty marketing, or is it a bold approach to be respected for its potential?


As ever we welcome your views on all of the above – please click here to take part in the survey.

If you have any extra comments email us here newsdesk@fm-world.co.uk after voting.