Asda has relaunched its sharesave scheme, using staff who have benefited previously to boost take-up.
The retailer sent out invitations on 26 February to all eligible staff who have completed six months’ service. Laura Wilcock, shares manager at Asda, said previous scheme members had a key role to play in raising awareness. “We have asked [staff] to put stories about how they spent money from previous schemes on our internet site, The Green Room. The challenge is getting the message out there, so we are using real stories to help us.”
The plan, which had 25,000 members in the UK last year, allows staff to save between £5 and £250 a month over a three-year period. The shares are those of Asda’s parent company, Wal-Mart, which are listed on the New York stock exchange. Once purchased by Asda staff, the share price is converted into sterling.
Wilcock said the economic climate had helped Asda’s share price. “People are shopping more cheaply, which means Wal-Mart’s share price has done really well.”
The scheme is administered by Computershare.
Read more articles on employee share schemes.