Global shares at BHP Billiton
The scheme, which offers a free share for every share purchased as long as the stock is held for three years, has so far achieved a 30% take up. When launching the plan, the mining company wanted a scheme that would encourage staff engagement and align employees’ interests with those of shareholders.
Geraldine Pamphlett, share plans manager, explains that the aim was to “recruit, develop and retain talented and motivated employees who share our vision and values”.
That is why it opted for a plan that requires employees to commit their own money. It also wanted a common global offering. Pamphlett says it’s unusual to introduce “a single uniform plan, with neutral tax implications, and to offer identical terms across so many jurisdictions and to so many employees.” This was the only way to ensure that every employee had the same rights.
The scheme was devised by PricewaterhouseCoopers and Computershare.