It launched a sharesave scheme for its 300 employees in November 2012.
The only stipulation the employer applied for staff joining the scheme was for them to have passed their probationary period. At the launch of the scheme, 214 employees were eligible to join and 110 did so. The scheme is administered by YBS Share Plans.
Andrew Richardson, chief financial officer at Utilitywise, says: “A lot of our employees are sales driven and we really want to get engagement with them.
“It is important that they realise that what they do day-to-day directly influences the performance of the business and the easiest way to do that is to link it to the share price. If they have shares, or options in shares, we get engagement with them because they are not only concentrating on their individual tasks, goals and remunerations, but also this bigger pot, so they feel part of the business as a whole.”
Richardson says Utilitywise was pleased with the 50% take-up in the scheme because it shows employees’ commitment
