ifs ProShare welcome £15m share scheme payout to transport workers

ifs ProShare, the voice of the employee share ownership industry, today welcomed news that Stagecoach Group employees are to share in a £15m+ payout under the Stagecoach SAYE Sharesave employee share plan.

Fiona Downes, Head of Employee Share Ownership at ifs ProShare, said: “The Stagecoach Group has more than doubled their share price since the start of this 3 year plan in 2005, meaning thousands of employees will benefit. We understand that average gains are in the region of £3,500 – an excellent reward for employees who have contributed to the Groups success. Those who have opted to save in 5 or 7 year SAYE plans may see even greater financial rewards in years to come.

The Stagecoach payout to bus and train drivers is yet another example of the benefits of medium to long term saving via an employee share plan. However, it’s also important to recognise that employers similarly benefit. For example, from increased financial performance, employee productivity and employee retention.

John Hamilton, Director of Pensions and Benefits at Stagecoach, said: “Our employees have been at the heart of the growth of our company and it is right that they can share in the success of the business through the scheme.”