Employee share plans must change to remain relevant to workers
A survey carried out by industry body ProShare into attitudes to employee share ownership found that many employees lack awareness of what the main features of their company share plans are, or are put off participating due to the schemes being unaffordable or offering insufficiently attractive financial returns.
Research conducted by ProShare, in partnership with Secondsight shows that Millennials (16 – 37 year olds) often don’t take advantage of share schemes because they think the schemes are outdated, inflexible and unaffordable.
The survey also explored differences in the awareness and appeal of share plans between employees grouped by gender and generation. Those differences could help employers to choose and implement their plans, and also help the government to “future proof” the UK’s share plan framework, share plans expert Suzannah Crookes of Pinsent Masons, the law firm behind Out-Law.com, said.