When Marks and Spencer (M&S) communicates the maturity of its sharesave schemes, it simplifies the message to ensure staff make the right decision. The retailer has been offering staff sharesave schemes for 30 years.
Ann Govier, manager of senior remuneration and employee share schemes at M&S, says: “Some people find shares quite scary when it comes to maturity. It is quite difficult for them to understand the decisions they can take. We put a lot of effort into communications and come up with innovative ideas for options when the scheme is underwater, and make sure employees make the right decision for them.”
Employees receive a communications booklet alongside a series of lunch-and-learn sessions with a financial adviser.
Since its 2010 sharesave launch, M&S has 26,000 staff taking part in one or more schemes, saving £3 million a month compared to £2.6 million previously. These figures helped M&S win ‘Most effective all-employee share scheme strategy’ at the Employee Benefits Awards 2011.
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