The voice of employee share plans

Employee Share Plan Reform - ProShare's Letter to Chancellor Rachel Reeves

We would like to thank all the companies and organisations whose logos are in the image above for publicly supporting our letter to the new Chancellor, Rachel Reeves.

You might recall that we had the backing of 40 companies and organisations to last year's letter to the previous Chancellor - Jeremy Hunt - in support of ProShare’s response to the government’s Call for Evidence on Save As You Earn (SAYE) and Share Incentive Plans (SIP). We have surpassed that this year with 56 organisations endorsing our letter calling for the Chancellor to bring forward share plan reform and modernising SAYE and SIP. It is a testament to the unity of the industry that so many have backed our call on the new government to finish what the last government started.

It’s twelve months since the Call for Evidence on all-employee share plans closed and while we are disappointed that no response emerged from the Conservative government, we hope that Rachel Reeves will see the opportunity for all-employee share plan reform. More than 20 million workers across the UK have participated in these plans since their introduction. It's vital that they are modernised to reflect current working patterns so that as many companies and their employees as possible can benefit from the enhanced productivity, financial resilience, and employee engagement they bring.

Share Plans Next Gen

ProShare, together with UK industry colleagues including Global Equity Organization, Deloitte and XY, is in the process of developing a brand-new program to support people of all ages who are new to the employee share plan industry, be they in-house, working either back office or client facing at a provider /administrator, or in an advisory role. We aim to support with the creation of a welcoming wider community, the development of share plan knowledge and soft skills, a resources hub, and industry events all tailored for a long and fruitful career within the sector.

To assist with this, and to help develop the industry's 'next gen' talent, we would be very grateful if you would share this 10-minute survey with new or junior team members. The feedback provided will be invaluable in helping us develop a program with purpose for everyone working in the share plan and incentives sector.

If you have any comments or questions, please don’t hesitate to get in touch.

Team@proshare.org

ProShare is the voice of employee share plans and share ownership

ProShare was established in 1992 by HM Treasury, a group of FTSE 100 companies and the London Stock Exchange to promote employee share plans and wider participation. Today, we work with companies of all sizes and across all sectors, as the voice of employee share plan practitioners and professionals. ProShare is a non-partisan, not-for-profit organisation, and we are funded solely through membership and our events.

Evidence from both the UK and further afield demonstrates that employee share plans and employee share ownership produce a more engaged and focused workforce, and one which is more financially resilient. They lead to markedly higher productivity rates, lower staff turnover and improve employer/employee relations, and they epitomise the current government's stated aim of levelling up across the whole of the UK and 'building back better'.

ProShare is the principal lobbyist for employee share ownership in the UK and has a strong track record of influence at the heart of Government. We meet regularly with HMRC, HM Treasury, the Office of Tax Simplification, the Department for Business, Energy and Industrial Strategy, Members of Parliament, and other regulatory and industry bodies, to express our members’ views and to ensure that the benefits of employee share ownership continue to be understood and appreciated by those in positions of influence. Our aim is protecting, promoting and enhancing the interests of our members and of all employee share ownership stakeholders.

We train share plans practitioners, from absolute beginners through to seasoned experts.
We recognise and celebrate corporate and individual excellence in share plans through our Annual Awards Dinner.
We educate, network, and inspire industry members through our Annual Conference and events.
We update and inform our members through our newsletters, focus groups, research and studies. 

Got a question about share plans?

Get in touch with us if you have any questions about share plans. If we don’t know the answer ourselves, we will definitely know someone who does!
Email: Team@proshare.org