News – Page 2
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ArticleBuyer's guide to share incentive plans
What are share incentive plans?Share incentive plans (Sips) were introduced in the UK in 2000 as a type of employee share scheme aimed at helping employees, who can purchase shares or be awarded free shares in the company, to save in a tax-efficient way. By promoting employee ownership and participation, ...
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ArticleParfetts awards 4% sales growth bonus to staff
Cash and carry business Parfetts has awarded its 1,000 employees a 4% sales growth bonus as part of its Employee Ownership (EO) Day (23 June) celebrations.This is higher than the 2% bonus that employees received in 2022, along with a £500 cost-of-living bonus.Employees at eight of Parfetts’ depots enjoyed music, ...
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ArticleThe top 10 most-read articles between 2 - 8 June 2023
The top 10 most-read articles on www.employeebenefits.co.uk between 2 - 8 June 2023 were: Aon introduces paid carers' leaveGovernment launches consultation on employee share schemes Exclusive: Aldi Stores and Lidl GB shortlisted for Best healthcare and wellbeing benefitsNatwest Group completes acquisition of CushonExperian and HLB International among Global Most Loved ...
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ArticleGovernment launches consultation on employee share schemes
The government has launched a consultation on non-discretionary tax-advantaged employee share schemes, including sharesave schemes and share incentive plans (Sips) as part of its aim to improve and increase their usage.The government is interested in hearing from stakeholders about whether the schemes are attractive to lower income earners in order ...
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ArticleSkout becomes employee owned
Cheshire-based B2B PR and communications agency Skout has become 100% employee owned through an employee ownership trust (EOT) to secure its long-term independence.The EOT now has a 100% controlling interest in the business, acting as a guardian of its values and culture, and ensuring its direction remains in employees’ best ...
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ArticleCardinal Global Logistics becomes employee owned
Manchester-headquartered logistics services business Cardinal Global Logistics has transitioned to an employee ownership model to mark 25 years in business.The business, which employs more than 400 employees, aimed to create an environment where every member of staff has the same opportunity to become a partner in its democratisation model, sharing ...
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ArticlePrinciple Cleaning Services becomes majority employee owned
Principle Cleaning Services has transferred the majority of its shares to its 2,300 employees through the creation of an employee ownership trust (EOT).Founded in 1989 by executive chairman Douglas Cooke, the window cleaning business formed an EOT in order to secure its long-term future while creating an effective platform for ...
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ArticleThe top 10 most-read articles between 5 - 11 May 2023
The top 10 most-read articles on www.employeebenefits.co.uk between 5 - 11 May 2023 were: Stella McCartney and Herbert Smith Freehills shortlisted for Best pensions strategyThomas Cook completes £900m pension buy-inPam Group launches enhanced reward packageAmazon runs Welcome Day for employees returning to Seattle officeQuarter of businesses have seen increase in ...
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ArticleHIT Training becomes majority employee owned
Training and apprenticeships provider HIT Training has become employee owned through the creation of an employee ownership trust (EOT).The EOT, which will benefit the employer’s employees across its HIT Training, Connect2Care and Executive Development Network divisions, now owns 61% of the organisation on behalf of staff.All employees are eligible to ...
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ArticleCarreg Construction transfers to employee ownership
Welsh building contractor Carreg Construction has transferred to employee ownership 20 years after its foundation in 2003.The business, which employs 21 people, was founded by Andrew and Sue Phillips. Andrew Phillips agreed to stay on as director to help guide the development of the business alongside the employee ownership trust ...
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ArticleDaimler Truck awards profit share and appreciation bonuses
Credit: T. Schneider / Shutterstock.comGerman commercial vehicle manufacturing firm Daimler Truck has awarded eligible employees a €6,300 (£5,546) profit sharing bonus and a one-off appreciation bonus of €1,000 (£880).The bonuses were decided upon by the firm’s board of management and the General Works Council, and apply to 25,000 tariff-scale German ...
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ArticleConnick Tree Care becomes employee owned
South England-based tree preservation and maintenance firm Connick Tree Care has announced that it will become employee owned.The plan was first announced to the business’ 75 members of staff in October 2022, and the process commenced this month, with the transition to an employee ownership trust (EOT) due to take ...
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ArticleDelta Airlines gives all staff 5% pay rise
American air travel organisation Delta Airlines has announced that it will give its ground and flight attendant employees a 5% pay increase as of 1 April.All 90,000 employees worldwide are included, apart from those covered by an industry or government requirement, or a collective bargaining agreement. This raise, which also ...
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ArticleJet2.com and Jet2holidays give staff 9% pay rise
Jet2.com and sister business Jet2holidays have given their workforces a 9% pay rise, effective from April 2023.The businesses also increased their profit share scheme terms by one percentage point, so that eligible employees can get a 6% share.The employers also awarded staff an extra annual leave day on top of ...
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ArticleCrookes Walker Consulting becomes 100% employee owned
Engineering consulting services business Crookes Walker Consulting (CWC) has become 100% employee owned by establishing an employee ownership trust (EOT).The organisation, which employs more than 50 members of staff across its offices in Manchester, Liverpool and Birmingham, received a business loan from OakNorth Bank to support the EOT’s creation. The ...
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ArticleSeven Search and Selection transfers to full employee ownership
Leeds-based recruitment firm Seven Search and Selection has signed a deal to transfer full ownership across to its 25 employees as of this month.According to the business, it chose to establish an employee ownership trust (EOT) so all of its employees would be personally invested and working for each other, ...
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ArticleBank of New York Mellon Corporation creates stock plan for 51,000 global employees
Credit: JHVEPhoto / Shutterstock.comUS and global investment banking services organisation Bank of New York (BNY) Mellon Corporation has introduced a share scheme for eligible employees with BK Restricted Stock Units, or BK Shares, which will open on 13 February 2023.A grant of 10 restricted stock units will be awarded to ...
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ArticleBoohoo gives shares to more than 1,100 employees
Image credit: AL Robinson / Shutterstock.comOnline fashion retailer Boohoo has given shares to more than 1,100 of its employees, including several members of its senior leadership.The Manchester-headquartered group released a statement to the London Stock Exchange, stating that the move was part of its Save As You Earn (SAYE) share ...
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ArticleLeader Marketing Partnership becomes employee-owned
Marketing agency Leader Marketing Partnership has changed its ownership structure to become an employee ownership trust (EOT).The agency, which has eight members of staff, was founded in 1965 by Bryan Holden, joined by his son James in 1983, who then took on the role of managing director in 1991. As ...
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ArticleOliver and Co Solicitors becomes employee owned
Chester-based Oliver and Co Solicitors has become employee owned, with its 85 members of staff now owning 100% of the business through an employee ownership trust.Members of staff will be eligible to own a stake in the firm and enjoy an equal share of the profits after working in their ...