14,700 Asda colleagues share Â£49million windfall from record Sharesave scheme
Today, 14,700 Asda colleagues are set to pocket a record £49million as a three year Walmart Sharesave scheme matures.
This year’s payout is the biggest yet for colleagues, with those saving £50 a month receiving more than £3,300, over £1,400 more than their original investment of £1,920.
Sarah Dickins, People Operations and Policy Director at Asda comments: “This is the third consecutive year that our colleagues have enjoyed a record Sharesave payout. Our colleagues drive the long-term success of our business; with a 70 per cent increase on the money they invested for this year’s payout I am delighted that so many of our colleagues are reaping the rewards of their hard work.”
The most popular choices for colleagues to spend their windfalls are on foreign holidays, weddings and home improvements.
Katherine Wynne, who has worked at the London Swanley store for eight years on the checkout, is putting her Sharesave payout towards her daughter’s dream wedding. Marie, 25, has worked at Asda for nearly eight years in the administration team is now planning a dream wedding aboard next year.
Bren Simmons, who has worked at the same London Swanley store for 25 years, is using her Sharesave payout to reinvent her garden with an Alice in Wonderland theme, installing a giant teacup and saucer and an oversized yellow watering can.
Bren said “My husband thinks I’m mad, but I have been really looking forward to enjoying the fruits of my savings and this means making a fun part of the garden just for me.”
The Sharesave plan, created in 1982, was designed to give Asda colleagues a stake in the company and the chance to share in the success of the business. The Sharesave plan allows colleagues to save between £5 and £250 every month. At the end of the saving period, colleagues get a tax-free bonus and can choose to use the savings and bonus to buy Walmart shares at a 20 per cent discount.