EXCLUSIVE: Employee benefits provider Personal Group has awarded its 250 employees free shares worth £500 under its new share incentive plan (sip).
The share reward is to recognise employees for their hard work during the Covid-19 (Coronavirus) pandemic. Effective from 1 December 2020, employees who have joined the organisation before June 2020 will have their shares held in trust in accordance with its share scheme plan.
The new share plan, introduced in December, will allocate £500 to each eligible individual and be held in trust by Personal Group trustees. This is the first time shares have been offered beyond the senior management team.
Deborah Frost, chief executive at Personal Group, said: “This is in recognition of the hard work the team have put in throughout a year that has been challenging for everyone. Personal Group has given its people a real stake in the organisations’ success, both now and in the future.
“Personal Group is investing in employees to help deliver its mission to protect the unprotected and connect the unconnected. In such a tumultuous year, I am proud to recognise our employees’ fantastic contribution and enable them to share in the future success we are building together.”