ASDA has revamped the application process for its sharesave scheme to enable staff to join via SMS text message, in order to boost employee participation levels.
When the system launches this month, employees at the retail giant will be able to text a dedicated phone number supplied by the scheme’s provider Lloyds TSB Registrars, which will then register them for the plan and update their details.
Currently just 21% of staff have taken up the sharesave scheme. The company hopes to increase this to 25% through the new SMS service.
Mike Hazelgrave, reward manager, said: “Around 97% of our colleagues have mobile phones, so we are definitely hoping that this boosts take-up of the scheme.”
The move is also intended to support the company’s environmental initiatives by reducing the amount of paper involved in the application process for sharesave, although Asda’s employees will still be able to apply using a paper form if they wish.
“We are quite keen to go green. We invite 140,000 colleagues to join the [sharesave] scheme, and that is a lot of paper, so we would like to reduce this,” added Hazelgrave.
Staff are currently being informed about the text service through in-store posters and line management briefings.