Recruitment firm Cordant undergoes a radical overhaul to become a social enterprise

Company will invest into initiatives including a teacher programme

Cordant has claimed the majority of its profits will be reinvested into social programmes across education, healthcare and employment, all part of its five-year plan.

Cordant has revenues of £840m and has capped shareholder dividends at a total of £3m.  It has also agreed to be independently audited against social impact measurements.

The upcoming changes will enable the company to reinvest profits into initiatives, including IT platforms offered at “zero cost” for the healthcare sector, as well as ongoing investment into technology to better connect pupils to apprenticeships, and workers to jobs.

The firm currently employs 125,000 workers annually in schools, hospitals, care homes, security and specialist roles such as engineering.

Chief Executive of Cordant Group, Chris Kenneally, 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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