Punch Taverns, the UK’s largest pub company, has been recognised for the Share Incentive Plan (SIP) it offers to 16,500 employees at head office and in its pubs.

Punch won the Most Effective All Employee Share Plan category at the Employee Benefit Awards 2008 held at the Park Lane Hilton Hotel, London on 18th June.
 
The pub company’s Share Incentive Plan, launched in June 2004, provides employees with one free share for every one they purchase.  They have the option to contribute a lump sum once a year or buy shares on a monthly basis.

Judges were impressed with Punch’s extension of the SIP share plan to employees spread over a vast number of locations in 870 pubs across the country, and particularly praised the integration of employees from Spirit Group, acquired in 2006.

Judges also praised the ‘clear branding strategy’ used to communicate the scheme with the “...go on have a SIP” strapline as well as the reduction in waste as employees were encouraged to sign up online.
 
Karen Caddick, Punch’s group HR director comments: “I’m thrilled that the SIP scheme has received this recognition.  It’s a great plan that allows employees to have a stake in the business and have a share in its success.  Over 60% of head office employees have chosen to participate with 10% of salaried employees and 1% of non-salaried employees in pubs taking part.”
 
Karen adds: “It’s a double honour as Punch was also short listed in the Most Effective Motivation or Incentive Strategy category for our PROUD Award Scheme; a recognition scheme linked to our company values which allows managers to award employees for living the values."