EXCLUSIVE: Around 1,500 BSkyB employees will share a payout after the organisation’s three and five-year sharesave scheme matured in January 2014.
The sharesave schemes reached maturity in January, when BSkyB’s share price stood at 888.75p.
This marks a substantial gain for members of the schemes, which were launched in 2008 and 2010 at option prices of £3.72 and £5.65, respectively.
The broadcasting, broadband and telephone services organisation has refreshed its communications for the latest schemes’ maturity, including an article on the company intranet, Today at Sky, in January titled ‘Look who’s sharing in our success’.
Julie Goult, reward manager – corporate programmes at BSkyB, said: “We [placed] an article on our intranet on the maturity, which we hadn’t done before. People were engaged and knew it was coming.
“On 6 January, we sent out letters to all employees who were in the schemes, and we [published] the article on the intranet the following week.
“We used it as a way to tell employees what they need to do, who they need to get in touch with, and also as a bit of a reminder for all employees, because January is the first deduction for anyone who signed up to [the 2013 sharesave scheme] as well. It was taking people through the whole process.”
The communications around the sharesave maturity built on the lessons that BSkyB learned from the launch of its most recent three and five-year sharesave schemes in September 2013.
Working closely with its internal communications team, the organisation promoted the schemes on its intranet, put up posters in its offices, wrote a personalised letter to all 21,000 employees and sent out booklets that outlined how the schemes work, which included a personal invitation from the chief executive officer.
Employee case studies
It also included case studies from employees who are already members of a sharesave scheme.
Goult added: “We had an employee who works in the call centre in Scotland. She talked about using the savings from the scheme she is currently in to host a joint party for her 40th and her daughter’s 18th birthdays.
“One of the team managers in our engineering part of the business, the people who go out and install Sky in people’s homes, put the money towards his daughter’s wedding. His next one will be used for a trip to Australia to visit his son who has emigrated there.
“It’s the first time we’ve done that. The personalised stories really resonated with people.”
Following its refreshed communications, BSkyB has increased membership in its sharesave schemes. In 2012, 3,400 employees took up the scheme and that has increased to 5,400 in 2013.
“I think we’ve communicated it a bit more effectively than we have in the past,” said Goult. “There is probably a little bit about anticipation in the scheme and looking out for it. Employees are quite used to it now.
“The scheme gives them the opportunity to stick their money away and, hopefully, earn some money on it as well.”
The sharesave schemes are administered by Capita Employee Benefits.