Kindred Group Plc has launched a new ‘All Employee Share Plan’ (AESP) which will allow its workforce to benefit from the success of the group through share ownership.
The new AESP scheme will be made available to all current and future Kindred employees, with the exception of personnel registered as executive management of the Stockholm-listed online gambling group.
The scheme builds upon the AESP that Kindred originally launched back in 2017, which the company detailed had increased by 70% in value for its employees.
Kindred’s new AESP will run over a two-year performance period, with shares distributed to employees based on the operator’s EBITDA trading results.
Gavin Hayward, Kindred’s Chief Human Resources Officer, underscored the importance of the scheme as a fair reward for employees and incentive for retaining the firm’s top talent.
“Our people are our most valuable asset and we want to ensure that current and future team members share in the success of Kindred Group,” Hayward commented.
“We have committed to make a new share award every year for the next three years in line with our current strategic cycle for the business. We hope this will engage and motivate our employees, and demonstrates our long-term commitment to customers and shareholders.”
In its statement, Kindred outlined that it had rejected traditional ‘save as you earn’ type schemes, allowing employees to purchase discounted shares – as its AESP was designed to reward employee performance aligned with corporate results.
“We genuinely believe that our AESP is a unique and special benefit which aligns employees with Kindred’s performance, provides them with an opportunity to be shareholders themselves in the company and really differentiates our employee proposition from that of our competitors,” Hayward concluded.