Staff at one of the country’s leading recruitment firms are celebrating a £4.3 million shares pay-out as the company celebrates 60 years in business.
Delighted employees at Warwickshire-based Pertemps, including temporary workers, reaped rewards after investing in an HMRC-backed share option scheme 10 years ago and a share incentive plan open to employees since 2015.
The fulfilment of the schemes was timed to coincide with the 60th birthday celebrations of Pertemps, which was founded in Birmingham in 1961 by Connie Watts, mother of Lifetime President Tim Watts.
Tim said: “I am a firm believer that if employees have a vested interest in the firm’s success, it becomes an incredible motivator. If the company succeeds, they reap the rewards. It is only right and that is the way I have always run things.
“In return, we have a highly talented and hard-working set of partners, and an outstanding team who have been with Pertemps for decades in some cases. The success of this approach speaks for itself and allows us to offer the best rewards which, in turn, provides the very best service to our clients and candidates.
The latest dividend comes after three previous seven-figure pay-outs – in 2018, 2011 and in 1995 – from the organisation’s Employee Benefit Trust.
Share options and share incentive plans are commonly used by listed companies to share success with staff but used infrequently by private firms. Around 400 Pertemps staff will benefit from these Government-approved investment schemes in the next month.
Steve West, Chief Executive Officer at Pertemps, which has its headquarters in Meriden, between Coventry and Birmingham, said: “Tim’s vision for the business years ago, of all employees, including our flexible colleagues, sharing the company and benefitting from its success, is embodied in this latest share exercise.
“Seeing this scheme continue to provide a platform for people to share in the ownership of the company, share in its success and shape its future is a cornerstone of the belief that our staff are our most important asset. That is something that will not change as the business moves into its next exciting chapter.”
Pertemps Network Group is one of the UK’s largest privately-owned recruitment agencies. It has a turnover in excess of £900m and offers immediate and strategic solutions to clients across both the public and private sectors. It is made up of:
Pertemps Ltd was established in 1961 and now with over 200 nationwide branches, operating across a multitude of sectors and supplying diverse roles. The company also specialises in business process outsourcing delivered using a wide range of solutions such as Master Vendor, Neutral Vendor and Recruitment Process Outsourcing.
Network Group is offering expertise across specialise recruitment sectors including IT, legal, finance, healthcare, education, security, medical, construction, manufacturing and engineering