« Getting alignment at the top | Main | The power of an effective exit interview »
April 5, 2006
Marks and Spencer shares the wealth with all employees
I was in the United Kingdom recently and was interested to see a bit of news about the retailer Marks and Spencer in all the papers. For those of you who follow the retail world, M&S has been recovering lately from a string of bad years. They've fought off a takeover and have made major changes to how they run their business. Its shares have risen 61 percent in the last 12 months and retail profits are up by 36 percent over last year.
To ackowledge employees' roles in this success, M&S is giving every one of its 63,000 staff a bonus from a pool of $105 million. In an era where it seems like all we read about are executives taking millions in bonuses, it's great to see an example of a company where the CEO specifially calls out employees working the retail floor (about 55,000 of the 63,000 total) for their role in the company's turnaround.
Posted by Christopher at April 5, 2006 11:58 AM
Trackback Pings
TrackBack URL for this entry:
http://www.edelman.com/mt/mt-tb.cgi/145
Listed below are links to weblogs that reference Marks and Spencer shares the wealth with all employees:
» generic butalbital from generic butalbital
[Read More]
Tracked on June 19, 2006 5:13 AM
» Re buy viagra with discount. from Discount viagra.
Canada discount viagra. Discount prices on viagra. Discount viagra. [Read More]
Tracked on February 6, 2008 5:31 PM
» Ringtone. from Crazy frog ringtone.
Vintage ringtone. Ringtone software. Free lil boosie ringtone. Ringtone tear red hot chili peppers. Free ringtone codes. Mission impossible ringtone. Our man flint phone ringtone nextel. [Read More]
Tracked on March 4, 2008 7:03 AM
» freeannualcreditreport.com annual credit report from freeannualcreditreport.com annual credit report
[Read More]
Tracked on May 13, 2008 1:55 AM
» freeannualcreditreport.com annual credit report from freeannualcreditreport.com annual credit report
[Read More]
Tracked on May 13, 2008 1:55 AM
Comments
i work for m&s and the bonus is all rubbish it has been denied by Stewart Rose, we have been told that there is no bonus and that it was just media speculation
Posted by: ................... at April 9, 2006 4:26 PM
This is interesting -- thanks for your post. It would seem like M&S now has a bigger problem on their hands if media have reported about this and gotten hopes up.
Posted by: Christopher Hannegan at April 10, 2006 10:10 AM
I think it is unfair the way bonuses have been worked out, all staff on shop floor should get the same amount of bonus regardless the hours they work. Why should the executive get more than the shop workers.
Posted by: pam singh at April 18, 2006 3:30 AM
i Work for M&S and myself and hundreds of others are not entitled to any bonus due to being absent. It is not fair that i work hard to put money in the pot and am getting nothing back only punished for being ill!
Posted by: kati at May 11, 2006 3:49 AM