June Davenport of Solium, head of EMEA trust and nominee services
In what ways does employee share ownership serve a useful purpose?
- Attracting and retaining key staff
- Allowing employees to share in the success of the company
- Helping align employees with corporate goals and culture
How can we widen and deepen the adoption and use of employee share ownership?
- Reduce vesting periods
- Simplify plans and provide easier access to shares
- Immediate visible access – something tangible for a mobile generation
What would you tell someone on the fence about introducing employee share ownership to their company?
- Review your culture and see how or if a share plan would be a good fit
- Do a cost/benefit analysis to make sure it’s a viable option
- Research has proven that companies that offer share plans are more successful and have higher levels of retention than those that don’t
What do you think will change about employee share ownership over the next five years?
- The way plans are offered – more international plans offering more simplicity especially for mobiles
- Shaping plans to be more attractive to younger generations – offering tangible instant gratification
What has been the most important development in employee share ownership during your career?
- The internet and developments thereof – having the ability to manage plans and transact online is invaluable
- The development of mobile technology and the ability to do the above at any time anywhere
Which change to employee share plans legislation, in the UK or elsewhere, would you most like to see?
- Something akin to the 401K where employees shares move as they move employers, allowing them to build a more balanced portfolio and save for things like retirement
Why do you think employee share ownership has enjoyed cross-party support in the UK?
- In part due to the potential to reduce the burden on the state re pensions etc
Which aspect of the Esop Centre do you most value?
- The lobbying and connections to parliament
Which aspect of the Esop Centre would you most like to change?
- Expand engagement with issuers to improve overall success and reach
What is your idea of perfect happiness?
Family dinners with all our children and ‘plus one’s’, in the same place, at the same time
What is your most marked characteristic?
Two – friendly and driven
What do you consider your greatest achievement?
Joining a small start up in Canada – Solium and contributing to the growth and success of the company. On a personal level – not ‘permanently’ losing any of my three children – misplaced once or twice!
What historical figure do you most identify with?
Which living person do you most admire?
Who are your heroes in real life?
Hospice workers and those who care for the elderly.
Which word or phrases do you most overuse?
“To be honest”
“By the way”
What is your most treasured possession?
My passports (UK & Canada) – provides me with the gift of travel.