Punch Taverns plans Sip roll out

Punch Taverns is planning the third rollout of a share incentive plan (Sip) after take-up of its first two plans exceeded 50%.

Alison Joyce, HR manager at the pub chain, said the scheme would be rolled out in June after an extensive lead-up communication campaign.

The company expects take-up to increase this year after a sharesave scheme matured in March. "We’re now hoping that people who were in the [sharesave scheme] will come into the Sip," Joyce said.

She added that company shares had generally performed well, despite suffering a dip in value when the UK smoking ban was announced. The ban comes into effect next summer.

Although staff must wait three years to earn company-matched shares and five years for tax incentives, the scheme is its most popular employee benefit.

The company is also aiming to promote environmentally-sustainable modes of transport with the upcoming launch of a bikes-for-work scheme.

"We have quite a lot of people in city centres and we have a large population at head office. We’ve done a bit of research around how far from the office people live and it’s certainly a bikeable distance," Joyce said.