Published on 28 - September - 2011

Wolseley shares out the profits

Plumbers merchant group Wolseley is paying out up to £4.5m in profit-sharing, to make up for low salary increases.

The performance-related profit-share scheme is being made available to 80% of the merchant's 7,000 UK staff. The rest, which includes branch and sales managers, are already on a number of bonus schemes, some of the performance-related.

Neil McCawley, reward and benefits manager, said: "Some employees already get an opportunity to share through their bonus scheme, but 80% of our staff do not. It links into our pay review. Inflation is quite high and times are tight, so how can we reward our employees when we cannot afford to give them more in terms of pay?"

The scheme, called Sharing Success, will make a cash payment based on the profits of each part of the business. So a branch that exceeds its target will see its staff will get a share of the extra profit.

The payments will be made to staff in November 2012, with a total cap of £4.5 million.

© Datateam Business Media Ltd 2011. news articles may be copied or forwarded for individual use only. No other reproduction or distribution is permitted without prior written consent.

Make a comment?
Your name

Inform me of responses to this comment

This Is CAPTCHA Image
Write the characters in the image above
This is a security measure to let us know if you're a human user or a spam machine.

Datateam is a modern and dynamic communications business with a product portfolio covering six business-to-business and healthcare sectors. Established in 1988, we have expanded over the years and now offer over 50 publications, websites, events and awards.

We use cookies to make this site as useful as possible. They are small text files we put in your browser to track and assist usage of our site but, with the exception of cookies that help you log in, they don't tell us who you are.
You can control cookies in your browser settings. If you use our site it implies that you consent to our cookie usage. To find out more about how we use cookies and how you can control them, click here to see our cookie policy.