The move towards employee ownership is intended to give employees a stronger voice, while fostering productivity growth and inclusivity in the workplace
BT‘s new chief exec, Philip Jansen, has outlined plans to invest £50 million per year in a scheme that would make BT’s employees shareholders in the company.
The scheme is part of BT’s plans to create a leaner, more engaged workforce.
As part of the "Yourshare" scheme, BT will award each of its employees a £500 stake in the company. The shares will need to be held for at least three years before they can be cashed in, as the company looks to build a long-term, settled workforce.
“I want to make BT a company that exceeds our customers’ expectations and does a brilliant job for the country. To achieve that, I’m going to start with our colleagues: the 100,000 people involved in developing and delivering the essential products and services that connect millions of people across the globe," said Jansen.
“I’m asking our colleagues for their commitment to making BT a national champion; and I want to give them ownership in our company and a share in our success. Placing customers at the heart of BT will only be possible by investing in the lifeblood of the business, our people, giving everyone a stake as we build a better BT for the future,” he added.
2019 is set to be a busy year for BT as it looks to launch 5G mobile network services in the UK, while simultaneously rolling out millions of fibre to the home connections through its fixed line broadband provider Openreach.