ifs ProShare, a not for profit organisation concerned with the issues of employee share ownership and financial education in the workplace, today praised bus and rail company FirstGroup for offering their employees the opportunity to have a stake in the company through an employee share scheme.
1,500 staff will shortly be receiving a share of £4m as a result of their membership of a save as you earn scheme (SAYE) and thousands more are set to benefit in the future as the company now boasts 12,000 employees in the company's share schemes.
Fiona Downes, Head of Employee Share Ownership at ifs ProShare said: "This is great news for the bus and train drivers, engineers and other staff at FirstGroup and further demonstrates what a positive effect SAYE schemes can have on company performance and employee rewards."
FirstGroup Chief Executive Moir Lockhead commented, "We're delighted that, as part of their total reward, so many of our people have benefited from SAYE this year, and that they are able to enjoy a very real share in the success of FirstGroup."
FirstGroup has offered staff annual opportunities to join its SAYE schemes since 2002. The SAYE scheme enables employees to buy shares at a 20% discount, benefit from a tax-free bonus and has proven to be a very good alternative savings vehicle for thousands of employees as a result.
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