22 Oct Sugarman Australia, part of the Cordant Group, has become a Social Enterprise
The Cordant Group, Sugarman Group’s umbrella brand has announced its new status as a Social Enterprise, pledging to touch and improve thousands of lives, one community at a time.
Framed around a five-year plan, our family owned Group will reinvest the majority of its profits into social programmes across employment, education and healthcare. With a powerful multi sector reach we will help deliver lasting social impact through direct engagement and wealth redistribution.
To illustrate this we have already:
– Capped all annual shareholder dividends
– Capped all executive salaries at 20 times that of the lowest paid worker
– Agreed to be independently audited, using recognised Social Impact measurements
Whilst Cordant’s businesses, including Sugarman Group, will operate as normal, these changes will enable us to reinvest profits into key initiatives, including:
– Partnerships with key clients to upskill and train the temporary workforce to drive productivity but deliver deeper satisfaction.
– An ongoing investment in technology to better connect pupils to apprenticeships, workers to jobs, and patients to doctors and carers.
– A teacher programme is being developed by international education expert Richard Gerver to examine the link between the classroom and life/work preparation.
– Offering IT platforms, at zero cost, for the Healthcare sector, enabling Hospital Trusts to offer shifts directly to doctors and nurses, saving the NHS millions of pounds.
Phillip Ullmann, Chief Energiser, Cordant Group said: “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, Cordant Group, said: “It is 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. Whilst 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.”
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