Wolseley shares out the profits

Published: 28 September 2011
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.

Comments

Already Registered?
Sign In
Not Yet Registered?
Register
Printable View E-mail Bookmark
Would you like to receive a printed copy?
Click here to register for a regular copy of Builders Merchant Journal
Subcribe to ACR News
[month]

Digital Archives

Click here to view archived digital editions of Builders Merchants Journal
November 2017

Digital Archives

Click here to view archived digital editions of Builders Merchants Journal

Buildbase goes on film to promote industry to next generation

National builders’ merchant, Buildbase has collaborated with ITN Productions and the Chartered Institute of Builders (CIOB) to produce a four-minute
18-Oct-2017

Armitage Shanks skips to the beat for 200th anniversary

Armiatge Shanks Beats video
18-Sep-2017

Medium-sized merchants in Health & Safety fines warning

Builders’ merchants are at increasing risk of significant Health and Safety fines following last year’s changed H&S guidelines, especially
6-Feb-2017