Employee share schemes create a greater sense of financial wellbeing, said Rosemary Lemon (pictured), group head of executive remuneration and reward at Legal and General (L&G), in an interview with Jennifer Paterson, senior reporter at Employee Benefits.
Lemon said that the organisation’s share plans are very important for aligning employees with shareholders, and in terms of focusing on short and long-term savings.
She added: “We feel that if employees are confident about managing their money, they have a better sense of wellbeing. Our share schemes play quite an important role there.”
Legal and General offers a range of share-based benefits to employees, including an all-employee share incentive plan, a three and five-year sharesave scheme, a share bonus plan and a long-term incentive plan, which is based over three years.
The schemes can also be used to improve employee engagement, said Lemon.
“Our employees are really enthusiastic about the share schemes. More than 90% of employees are shareholders in L&G,” she added. “We get extremely good feedback.”