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We are thrilled to share with you a few highlights from The Australian, where Brett Kelly, CEO of Kelly+Partners Chartered Accountants, shares his reasons for giving all his employees shares through the Upstreet platform. A few highlights from the article below:
Brett shared with The Deal: “With a traditional employee share scheme, an employee gets a piece of paper once a year saying ‘you own x number of shares’. Using the Upstreet app is a very efficient, cheap and personal way. A staffer can get a ping on their mobile phone which says, hey, thanks for recruiting that new staff member or bringing in that new client. The employee is then told how much they will be getting in shares in the app.
He says the advantage of the Upstreet program is that it involves Upstreet buying the shares on the market. It does not involve the employer issuing new shares in their company, which is dilutive of existing equity.
It works on the basis of catching people doing something right and giving them a pat on the back. It is better to give someone $10 10 times than $1000. If people get shares at the end of the year they become entitlements. Because they happen once a year, no one can remember why they are getting them.
Kelly says being able to reward staff with shares also gives them a stake in the welfare of the company."
Reach out if you are interested in learning more about an easy and efficient way to give share rewards to your employees (whether you are a private or publicly listed company).