In an increasingly competitive world, organisations need to get the best out of their teams. A strong remuneration and people strategy is key to success, and share plans can play a vital role in both.
Over 2 million employees take part in a variety of share plans and with almost 1.5 million participants, Sharesave still has a good slice of the action - understandably so when you consider it has been around for over 35 years. But do we really understand what Sharesave means to employees?
ifs ProShare, the voice of employee ownership, produce an annual report using data from principal share plan administrators. The recently published 2016 ifs ProShare statistics (based on 2015 data) show that:
- 420 companies of the 489 surveyed continue to regularly offer Sharesave to their employees
- 80% of these companies offer the maximum discount of 20% on the share price with the average monthly saving at £119.78 per month
Whilst the above highlights trends from the annual survey results, it tells us very little about the behaviours of share plan participants and what they do with their savings
Louise Drake, National Sales Manager – Growth & Acquisition at YBS Share Plans, said Pension changes and share ownership are current hot topics, with Help to Save and Life Time ISA also bringing personal savings into sharp focus. We’re passionate about understanding what really engages our customers and this increased understanding will help us better position the range of employee benefits on offer, support the financial education agenda and benefit the sector as a whole.
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