Congratulations from ifs ProShare to all those companies who have won one of our 2008 awards or who have been commended. You should be proud of your achievement in demonstrating best practice in the employee share plans arena.
Abbey demonstrated a great all round approach to introducing Sharesave. With no similar plans in the Santander Group this broke new ground and required the backing of the Santander Board in Madrid. Abbey had a clarity of purpose in introducing the plan which impressed the judges. They were also pleased to see that the desire to introduce Sharesave was driven by employee demand. The broad range of communication materials and the ease of participation made it easy for employees both to understand the plan and to apply.
The judges felt that Virgin Media merited a commendation for their sheer enthusiasm and the way in which they united two businesses. This was another share plan which had commitment and support from the highest levels of the organisation.
Having been commended last year Henderson was a clear winner this year. The judges commented on their excellent awareness of the complexities surrounding financial education and the way in which they tackled them. They were also impressed with the way in which Henderson clearly link their financial education programme to their overall employee benefits package. Henderson have gone beyond the boundaries of just providing information on employee share plans and pensions and presentations have included topics such as Tax Planning and Risk & Reward in Savings and Investment.
No commendations
This was a highly competent and really comprehensive campaign for a new entrant. 'Creative' and 'imaginative' were two of the words the judges used to describe this entry. All employees received a card and boxed chocolate on the invitation date, which was Valentine's day. A raft of communication materials were used including a video which was produced for the benefit of drivers who may have been unable to attend a presentation Real commitment from senior management was evident and included a mention from the Chairman in the company's annual report and accounts. The plan was a huge success with almost 50% of employees signing up and average savings in excess of £100 per month.
No commendations
Always the most competitive category and this year ASDA came out on top with their inventive and original approach to communication. They clearly like to think outside the box. Colleagues views were sought both internally and via an external research agency and this contributed to the formulation of the marketing strategy. The look and feel of the communication materials impressed the judges and built on the universally recognised 'green savings pig'. To encourage reading of their sharesave pack colleagues had the opportunity to enter a prize draw and win the opportunity to 'live like a millionaire for a day'.
The judges commended Marks and Spencer for the way in which they approached the review of their communication materials. It was clear that employee feedback on the plan communication was important and views were sought both before and after the launch. The revitalised communication materials resulted in an increased take-up.
Serco demonstrated a clear strategy linked to their business objectives. Communicating a plan globally is always a challenge and this was achieved by using a minimalistic design which translated well internationally. Significant effort was put into employee profiling and understanding the employee demographics. Employee case studies were also used to reinforce the share plan message.
The judges were impressed with the integrated approach adopted by BT and the way in which technology is used on a truly global scale - personalised e-mail invitations including existing savings in 20 currencies and 8 different languages is no easy task. Multilingual webcasts, podcasts and helplines open 24/5 all featured heavily in this entry. The need for employees to remember a share plan specific password when exercising sharesave options online was removed and was a key improvement for this year.
The judges felt that Logica deserved a commendation for the way in which they rose to the challenge of communicating their employee share plans globally by building and implementing a paperless technology driven solution. Along with this they also had to deal with data coming from several sources in a secure manner. They improved take-up and reduced costs and now provide all employees with a simplified view of their share holdings.
With a clear link to strategy and a high level of commitment to employee share ownership Invista is a worthy winner. A very generous plan involving both Free Shares and a 2 for 1 match on Partnership Shares coupled with a focused communication strategy and ease of participation ensured a high take up across the employee population Again the backing of the senior management team was evident with all new starters attending a lunch hosted by the CEO, Deputy CEO and the FD which includes their insight into the business and the reward structure. Employees are truly engaged at all levels and appreciate and understand the value of the share plans.
Judges were pleased to commend this entry for their linking of share plans to the wider benefits package. A self invested pension plan (SIPP) was introduced to enable employees with maturing SIP shares to transfer these into the SIPP. This was extended to also enable employees to transfer in shares vesting from an LTIP and also share bonus shares and cash bonuses. Employee feedback was undertaken which showed that 65% of employees are attracted by the opportunity to own a stake in the company.
A second win for Henderson this evening who have a truly excellent commitment to employee share ownership. Henderson have done a first rate job in delivering share plans to their employees and the judges were delighted to see a link to reduced turnover amongst staff who participate in the share plans. There was a clear strategy towards the employee share plans backed up by an extensive financial education programme. Launches were timed to fit in with annual bonuses which contributed to the high participation rates which were achieved. The judges were also impressed with the way in which Henderson involved their lower earning staff.
A second commendation of the night for Novae Group who have a clear philosophy on employee benefits and use the share plans as a way of recruiting and retaining staff. A well planned promotional campaign with the opportunity for face to face communication. Novae Group also demonstrated that share plans can be an effective tool as turnover is lower amongst staff participating in the share plan.
A clear winner with the judges being particularly impressed with the way in which employee share ownership is very much at the heart of the company. Staff turnover rates run at an impressive 16% compared to an industry average of 62%. Since 2000 the company has been focussed on altering its ownership structure with the intention that by 2019 the company will be entirely owned by its employees. They are well on the way to achieving this with 48% of the company being owned by the Employee Share Operation Trust. Judges also liked the altruistic team culture where employees share responsibility. The simple principle of the organisation is well founded we all contribute, we all benefit
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No Commendations
A second double winner of the evening sees BT reclaiming the crown they last won in 2005. The judges were pleased to see BT continuing with their philosophy of continuous improvement. Technology is used to great effect in both communicating the plans to their international workforce and in the administration of the plans. A UK corporate nominee to accommodate employees' shares arising from the share plans now holds an impressive 1.9% of BT's equity and this doesn't include shares held directly by employees or via other vehicles such as an ISA.
A strong entry from ASDA who continue to place a strong emphasis on employee share plans. The visual impact of the communications was very eye catching and the chance to win the opportunity to 'live like a millionaire for a day' really caught the employees' imagination and ensured they read the plan documentation. A take up portal enabled management to track take up of Sharesave not only throughout the whole of ASDA but also on a store by store basis which lead to healthy competition.
Another strong entry with Vodafone evolving their share plans to meet their culture of continuous improvement. The essence of the Vodafone brand 'red, rock solid and restless' are evident throughout the communication materials, both at the time of the launch or award as well at the maturity or vesting of the plan. The judges applauded the way in which Vodafone have integrated share plans into a very personalised total reward statement.
