M&S colleagues have hailed the retailers’ Sharesave scheme after standing to make thousands of pounds in profit each, which many are putting towards significant moments and celebrations close to their hearts.
The M&S Sharesave scheme is a Save As You Earn share scheme where colleagues can save directly from payslip to plan. Colleagues save by purchasing M&S shares at a discounted price, and after three years have the option of either selling them or keeping them for longer term investment. The scheme is a longstanding benefit at M&S and is available to all 65,000 colleagues so that everyone can share in the retailer’s growth.
The latest three-year scheme completed earlier this month which had over 5,500 participating colleagues, 85% of which were from stores and distribution centres. Colleagues were able to purchase M&S shares at a price 99p at the end of the three-year savings period.
Commitment to long term savings and growth in the retailer’s share price since 2022 has earned each participating colleague a bumper payout. With nearly 11m shares held collectively, the combined profit for colleagues this year is £32m. Colleagues who saved the maximum £242 per month could realise returns of £25,872 each.
Many of these colleagues have shared what they will be putting their windfall towards.
Jayne Jones a Customer Assistant at Bluewater Store said: “Over the years, I’ve put my Sharesave profits towards lots of important things – but this year might be the most significant, as it’s allowing me to buy my daughter’s wedding dress. I can’t tell you how proud this has made me feel. She’s getting married this August, and I can honestly say that with my Sharesave money is meaning I’m able to fulfil my own wishes to help her. Thank you, M&S.”
M&S’s Sharesave scheme is one of the most popular benefits among colleagues, with many having taken part in the scheme for decades and receiving significant financial rewards from their long-term savings.
As well as special family moments, the Sharesave scheme has supported colleagues to put down a deposit on their first home, buy a car or go on an unforgettable trip of a lifetime with family.
David Byford, Hempstead Valley said: “I’ve done Sharesave twice before. The first time I was able to put down a deposit on my own place at 29 years old. The sense of achievement was incredible, and I’ll never forget the feeling of walking into my own flat for the first time. The second time, I used the money to go on a holiday of a lifetime to Japan. I took a two-week escorted tour that will stay with me forever.”
Alongside Sharesave, M&S also offers colleagues a significant number of benefits designed to support colleagues and their families. This includes an uncapped market-leading 20% discount across all M&S branded food and fashion, home and beauty products as well as sector-leading pension contributions of up to 12% to help colleagues save for the future.
Hayley Tatum, chief people officer at M&S, said: “Sharesave is one of the many benefits we offer at M&S in addition to a leading rate of pay, so that every colleague can save for the long term and share in the progress of the business. From wedding dresses to house deposits it has been fantastic to hear how colleagues have been making the most of their returns from latest Sharesave scheme and benefiting as we reshape M&S growth.”
