More
than 37,000 Tesco staff have shared in a £116 million windfall through two of
the company’s save-as-you-earn (SAYE) schemes.
Tesco
staff – from checkout assistants to managers – have been saving between £5 and
£250 a month for either three or five years.
Top
saving staff will net £49,000 each, a 183 per cent return on their five year
investment.
Employees
who put away £10 a month for five years will see a return of £1,953 on their
investment of £690.
Tesco
has been running SAYE schemes for 21 years. The most recent three and five-year
schemes offered in October 2001 attracted over 63,000 applicants – more than
one in four of Tesco’s 180,000 UK-based staff.
“It
is great that staff are able to share in the company success. It is a great
win-win situation for staff and Tesco. We are trying to give staff every opportunity
to share in our success," said Clare Chapman group HR director at Tesco.
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“It
shows that we value our staff as individuals and recognise that they are
diverse, and we are offering them choices. This success of course makes a
difference when it comes to recruitment, retention and morale.”
