Almost 300 staff from both Punch Taverns and the integrated Pubmaster team couldn’t resist a bargain when the company offered a BOGOF (buy one get one free deal) on a new employee share scheme.

The marketing technique – usually more at home in a supermarket than a public limited company – formed part of an overall Share Incentive Plan (SIP) for Punch’s 520 staff.

Open to everyone, from the cleaner to the chief executive, the SIP is the latest initiative by Punch to motivate and retain staff. It gives them the opportunity to buy a stake in the company by purchasing up to £1,500 worth of shares in a 12 month period. And for each share purchased Punch is providing an additional one free of charge.

The first round has just closed and has been hailed a great success, exceeding expectation, with over 50% take up compared to an average 30% for similar company schemes.

Customer services director Francis Patton said: "We are delighted the SIP, with our BOGOF incentive, has proved to be popular attracting interest at all levels.

“Punch is a people business and we continue to thrive by having a great team in place. The SIP means that everyone has the opportunity to buy into our success and reap the rewards in the longer term."

The scheme - implemented by Halliwell Consulting - allows employees at all levels to buy shares, receive free shares after three years and pay no income tax or national insurance after five years.

Ends