The sharesave plan gives employees the option to buy shares in the company at a future date at a price set at the time of joining the scheme.
Employees that participate can save between £5 and £250 per month for a period of three, five or seven years.
At the end of the period of time that the employee has selected to save for, the company offers the choice of either using the saved money and the interest gained to buy shares in the business or have the contributions returned.
Both of these options also include a tax-free bonus for completing the selected time period of saving.
Many employers see share schemes such as this as essential for encouraging loyalty among staff, as employees have the chance to own a part of the company and share in its success.