Enticing more staff to join your company’s employee stock plan is good for business: it means an increased number of workers have a stake in the business’s success. Higher engagement levels improve everything from productivity to profitability, so it’s definitely in the company’s best interest to have a well subscribed employee stock plan. But how do you go about increasing the numbers?
- Focused messaging from the HR and marketing departments is key to communicating to employees on the benefits of subscribing to the employee stock plan. An awareness of the plan and an openness and transparency about how it works and how to sign up is key. You might think existing employees know the ins and outs about how to join and what it entails but this isn’t always the case.
- When it comes to new hires, the opportunity to subscribe should be discussed during the recruitment process. Information about it should be provided at the onboarding stage. Positive promotion of the plan will increase awareness as well as inform employees as to the perks and benefits of joining.
- Communication is key. Whether it’s flyers, emails, LinkedIn campaign InMails or internal meetings, speak to your employees. Tell them about the plan and how to go about joining.
- Find a good case study. It’s always great to show as well as tell, so find a great example of a participant who can give a talk about their experience and explain how the stock plan works.
- Keep participants of your employee stock plan informed. Financial reporting, statistics and more are just some of the features that can demonstrate to employees the merits of joining the plan. These are easily compiled if you outsource to a company such as Global Shares, who will take the hassle out of the process for you.
- Research has shown that the uptake of employee stock plans can be low and it’s often because of uncertainty or fears about what may happen in certain situations. Take away that uncertainty by clearly explaining what happens in the event of death, termination of employment, or how participants can withdraw if they so choose.
Global Shares is an employee equity management company. Our team has grown by more than 300 per cent over the past three years, to more than 250 staff in 11 offices across the globe. We specialize in helping companies attract, retain and engage top talent. Talk to us today about setting up a simple way to manage your employee stock plans. We’d love to help you grow alongside us. Come see us at booth 1010 at SHRM19 or click here for more information on how we can help.