Home Retail Group boosts share scheme uptake

EXCLUSIVE: Home Retail Group, which owns retailers Argos (pictured), Habitat and Homebase, has boosted engagement with its employee sharesave scheme by increasing its communications around the benefit. 

After receiving feedback from its employees, gathered through feedback questionnaires at the point at which staff are invited to join the scheme, Home Retail Group aspired to make shares less intimidating for its staff and explain the scheme in a simple manner.

The organisation communicated the scheme to staff by speaking to many of them face-to-face at its sites across the country, as well as through in-house magazines, presentations followed by question and answer sessions, colourful invitations, and a bitesize summary video featuring testimonies from staff that had already used the scheme.

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Its sharesave scheme has seen 10% employee take up so far this year, as around 4,000 of the 40,000 eligible members of staff who have been working for the organisation for six months or more, have opted to utilise it. 

The scheme, which was implemented in 2007 and administered by Yorkshire Building Society, allows employees to see their money mature over either three or five years, and any amount from £5 to £250 a month can be saved. 

Debbie Cam, colleague services manager, queries and benefits at Home Retail Group, said: “As our share price has steadily decreased over the past few years, staff have been encouraged to save [through the scheme]. 

“It’s also a great retention tool and a vote of confidence from employees who use it.”