Rewards and recognition
We are committed to rewarding our employees for the contribution they make to the success of the company. This encourages employee retention and motivation which are critical elements in the success of our business. Our Group Pensions Director is responsible for the development and implementation of our Total Rewards Programme in the UK.
We seek to provide equivalent pay compared with similar businesses in the geographical areas in which we operate and enhance this with a broader benefits package developed in consultation with our employees.
Share schemes
A key part of our benefits package is our highly successful employee share scheme which offers savings and investment opportunities for our employees.
Our Save As You Earn (SAYE) scheme enables employees to make regular, risk-free savings to a sharesave account. After three years, a guaranteed, tax-free bonus is added and there is the option to use the savings to buy discounted FirstGroup plc shares. In February this year almost 3,000 staff (mainly working on the front line) benefited when our third SAYE scheme matured. Staff members who saved £56 per month received in excess of £3,300.
Our Buy As You Earn (BAYE) scheme offers employees the chance to buy FirstGroup plc shares from their gross pay (thus saving income tax and National Insurance) matched by free shares from the Company.
Our intranet and workplace posters keep employees abreast of monthly BAYE purchases and movements in our share price.
Other reward schemes
We continue to extend the voluntary benefits that form part of our Total Rewards package. These include a facility for employees to contribute on a tax-free basis towards the purchase of goods ranging from bicycles to child car vouchers. We have also established a Family and Friends travel offer, providing discounted fares on FirstGroup trains and buses for our rail employees’ friends and relations.
First ScotRail offers a discount scheme with a number of major suppliers. This has proved popular with over 4000 hits on the scheme’s website since its introduction. Further benefits are planned for 2008.
Pensions
UK Rail employees can participate in the salary-related Railways Pension Scheme. In addition they have the ability to make additional savings into BRASS in order to boost their pension.
Recognition
We also have a number of ways in which we recognise our employees less formally. Excellence Awards and Recognition schemes are in place across the UK Rail Division. We also thank our employees by running annual fun days for staff and their families. During the past year, events have included a family fun day at Woburn Safari Park, a pantomime trip and a day at the races.
First TransPennine Express Customer Excellence Awards 2007
A train driver and conductor who helped rail passengers stranded by heavy rain even though their own homes were under water, have each received a special commendation for customer service. Paul Clarkson and Alan Humphreys from First TransPennine Express were recognised for their outstanding work at the FTPE Customer Excellence Awards 2007.