Blurring the line between worker and owner has netted profitable results for one Canadian home health agency, reports The Chronicle Herald.
Employees of Careforce Home Health Care Co-operative Ltd. formed its co-operative ownership in 2008, after the company’s original owner became interested in pursuing other business ventures.
After about a year for the co-operative to take off, the Kentiville, Nova Scotia-based company now has seven members on its board of directors as well as 13 member-owners.
The company even offers a payroll deduction plan to help its members afford the $2,500 buy-in, and currently boasts a workforce of 67 full-time and part-time employees, whose ages range from 21 through 72.
At the end of each year, according to Careforce Manager Debbie Raine in the article, 30% of the company’s profit stays in the company, while 70% is allocated to the members.
Seeing future growth on the horizon, Careforce Home Health Care Co-operative has enlisted a local developer to work with the company to develop a strategic plan and help with funding.
Written by Jason Oliva