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, free pizza and fun activities to celebrate EO Day, which was introduced to celebrate and raise awareness of the benefits of employee ownership. Having been an employee-owned business since 2018, staff have a say in the direction of the business through an employee voice council in each depot.
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As part of its employee ownership model, Parfetts employees receive a regular sales growth bonus paid in July and a profit share bonus paid in October, allowing everyone to share in the success of the organisation.
Guy Swindell, joint managing director of Parfetts, said: “EO Day provides a fantastic opportunity for everyone to come together and remind ourselves what makes Parfetts special. Employee ownership gives us the freedom to go the extra mile for our customers and be kind to each other. Everyone in the business has a say in the future of Parfetts, and we believe that it sets us apart from competitors.”
In March, Parfetts announced a 7.5% pay rise for salaried staff to help them manage the rising cost of living, while weekly paid employees saw a 9.6% increase to their hourly rates. They also received an extra day of paid holiday, and full-time staff can take additional unpaid holidays to a maximum allowance of 38 days.