B&Q managers could cash in on £25,000 worth of shares in just three years’ time after the DIY giant introduced an incentive scheme to maintain high standards of work.
Parent company Kingfisher has awarded more than 300 store managers £9m worth of shares, which they can sell in 2012 provided they consistently meet operating standards on how their store looks, how materials are displayed, and how to provide quality customer serivce. The shares are worth approximately six months’ salary for each manager concerned.
Chief executive of B&Q and Kingfisher UK, Euan Sutherland, said: “Against a tough economic backdrop, it is absolutely essential to have well-motivated, incentivised managers who know exactly what is expected of them.
“Rewarding managers who meet challenging store standards with shares is a really tangible way of making sure we do the best job we can for customers.”
The retailer also announced it will invest £1m in improving the skills of its workforce. The money will go towards funding apprenticeships and NVQ Level 2 qualifiications.
This week, B&Q will pick up the Gallup Great Workplace Award, which recognises employers with the most productive and engaged workforces worldwide. It is the only UK business to receive the award and is the third time the firm has won it.