McAlpine to launch share incentive plan

Alfred McAlpine plans to launch a share incentive plan (Sip) later this year to add to its existing sharesave scheme. The plan, which currently has an October launch date, will be open all 9,000 staff across the company. It is still being decided whether participants will just be allowed to buy shares from their pre-tax income – known as partnership shares – or whether the company will offer any matching shares.

Aidan Crossey, reward manager for the business services division, said: "There was a suggestion that we would match with a free share for every share purchased. Then we said we [would offer] one free share for every four shares, but is up for debate at PLC level." Crossey said he hoped membership of the Sip would encourage staff to appreciate the efforts of the whole company, rather than just their own particular part of the business. "All of our businesses have their unique identity and they are separate limited companies in their own right. "If I am a member of the Sip scheme I obviously have a vested interest in all the other companies in the group and how they are performing."

He added that there were plans to appoint "Sip champions" to deliver presentations and be on-hand to take queries from individuals. The firm has also launched voluntary benefits for its business services division, including options such as discounted holidays and spa treatments.