![\"\"\/](\"https:\/\/www.jpmorganworkplacesolutions.com\/wp-content\/uploads\/2022\/10\/kindred-global-connection-1000x523.jpg\")
<\/figure>\n\nEquality in equity<\/h2>\n\n
Having previously had a more traditional offering in place with another provider Kindred were looking to do something truly innovative and special when they approached J.P. Morgan Workplace Solutions (formerly Global Shares) \u2013 the solution a 2-year vesting period where every permanent employee, outside of the executive management team, regardless of location, gets the same amount.<\/p>\n\n
\u201cThe average tenure in the business is around 3.5 years, which aligns with the overall tech average, so it wasn\u2019t really fit for purpose from that perspective to retain people,\u201d says Nick of the decision to move away from the traditional 3+ year vesting period typically seen with LTIP programs. \u201cI\u2019m not aware of another company that does a 24-month vesting cycle. But we also grant awards every year as well and in doing so, avoid a \u2018cliff\u2019 when an LTIP scheme ends and attrition can potentially spike. Having annual awards should mean that there\u2019s always some skin in the game for employees.\u201d <\/p>\n\n
Guided by experts<\/h2>\n\n
Being a global company who wanted to ensure all employees worldwide got the exact same reward, regardless of location, when it came to regulatory and legal requirements, Kindred found the assistance from J.P. Morgan Workplace Solutions’ (formerly Global Shares) expert staff to be particularly useful.<\/p>\n\n
\u201cWe used your team to help us navigate our way through all the different complications and legislation in each country that we offer this particular scheme,\u201d Nick says, noting that not all other share plan providers offer such expertise as part of their services. \u201cIt\u2019s worth pointing out that it\u2019s a bit of a minefield and very complicated, with different tax treatments which need to be considered.\u201d <\/p>\n\n
\u201cWhen you\u2019re looking at a scheme like this with, currently 17 different locations, you either resource it in-house or you have to consult with multiple third parties in those different locations in order to get the correct legal and tax advice. It\u2019s beneficial actually having the service that you offer to help with the implementation of this. <\/p>\n
\u201cIntroducing a new stock plan is a lot of work anyway but without this service, it would been a real uphill struggle.\u201d<\/h6>\n
Nick Lawry<\/strong>, The stock plan was launched in 2021 as an essential pillar of the company\u2019s new long-term business strategy, and Kindred found the input from J.P. Morgan Workplace Solutions (formerly Global Shares) around communicating the plan to be especially good.<\/p>\n\n \u201cYou have to remind people about it, and you have to do it on a regular basis rather than a \u2018once-and-done\u2019 exercise,\u201d Nick says. \u201cIt was part of the initial discussions with Britt Kronqvist\u2019s team when we were implementing the new scheme and changing providers. A big driver for us was improving the engagement around the share plan for employees, and focusing on using different means of communication. This involved not only making better use of technology such as having the platform available on our intranet home page on a single sign-on basis so that employees can instantly access it, but also working with the communications team in developing material covering a comprehensive range of topics and FAQs, including the tax issues in each location, stuff that is less sexy but still really important.\u201d <\/p>\n\n Kindred have embraced the fact that there is a new normal, introducing trust-based policies and hybrid working, not prescribing to staff how, when and where they should work but giving them the autonomy to decide how effectively and best to do that themselves. It was essential so that their employee share plan reflect this attitude. <\/p>\n\n \u201cHaving a stock scheme like this as well, where we\u2019re saying to people, if you think of yourselves as owners of the business that accountability sits on you as an employee. We trust you to go ahead and do what you need to do, without us breathing down your neck, or micromanaging you or saying you need to be in the office 9 to 5,\u201d Nick explains. \u201cIn terms of the stock scheme and when we pay our dividends, we want employees to retain shares and be invested in the business going forward.\u201d <\/p>\n\n While Kindred may be involved in the gambling industry, they certainly weren\u2019t leaving anything up to chance when it came to their All-Employee Stock Plan (AESP), which launched so successfully in the midst of a global pandemic.<\/p>\n\n Boosting employee engagement by allowing staff to share equally in the fortunes of the company ties into their overall business strategy and it really is no surprise that a long-term, sustainable approach like this has already been so celebrated.<\/p>\n\n We are honored to have worked with Kindred to achieve this award-winning success.<\/p>\n
\nDirector of Reward, Kindred Group<\/p>\n\n<\/div> \nCommunicating with clarity<\/h2>\n\n
![\"\"\/](\"https:\/\/www.jpmorganworkplacesolutions.com\/wp-content\/uploads\/2022\/10\/kindred-corporate-diversity-1000x523.jpg\")
<\/figure>\n\nThe new normal<\/h2>\n\n
A sustainable approach<\/h2>\n\n