B&Q, part of Kingfisher Group, offers both a sharesave and a Sip to help build long-term staff loyalty. The sharesave scheme was first introduced in 1993, and the Sip in April 2011.
Last December, Kingfisher’s three and five-year SAYE schemes matured. Staff in the three-year scheme, which started in 2008, gained an average of £8,000. More than 2,000 Kingfisher staff, mostly B&Q store-based workers, shared a combined windfall of £7.9 million across both schemes.
Since 2010, Capita Share Plan Services has administered the SAYE and Sip schemes.
B&Q communicates its share plans via mailshots, in corporate newsletters and on display posters, as well as by DVD at some locations.
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