Have you considered implementing a company share scheme as a way of rewarding your employees?
Share schemes for employees are an increasingly popular way being used by employers to retain and attract skilled employees and improve staff morale.
The government is looking to replicate the success of the share option reforms (doubling of the amount of share options employees can be granted and removing restrictions on which kind of shares could be included) earlier this year by launching a consultation on non-discretionary tax-advantaged employee share schemes, including sharesave schemes and share incentive plans (SIPs).
HMRC’s share schemes and evaluation report revealed that 81% of respondents said the schemes help boost their business and 75% said they helped retain and recruit staff.
The aim of this second initiative is to improve and increase usage of the schemes and thereby boost motivation in workforces by giving people an extra stake in what they do.
