N Brown Group’s profit share scheme has paid out in full to its 3,000 employees after the firm hit its profit targets for 2008.
The scheme, launched in March last year, replaced the mail order retailer’s previous annual reward programme, through which all staff received gifts such as glass vases.
After the company announced successful full-year results in May, which showed revenue was up 10.7% on the previous year to £662.5 million, employees were awarded a bonus worth 10% of their pre-tax monthly salary.
The average pay-out was £110 across 2,825 employees, who received details of their bonus via email. For some of the company’s lower-paid staff, such as those based in its call centre and warehouse, this is a particularly
significant amount of money.
The company has now added the profit share scheme to the overall benefits provision it offers to all staff.
Miranda Rosenbaum, reward manager, said: “We delivered an excellent set of results – a double-digit improvement, which meant we were able to be significantly more generous than ever before. We are hoping to [offer] a similar scheme for next year.”