Share-owning scheme for removals men
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• A free sharing-owning scheme for all employees was announced last week by one of Britain's leading privately owned removal companies.
The managing director of Trevor Williams (Removers) Ltd, Hereford, Mr George Bartup, said: "The intention of the scheme is that everyone should genuinely be able to feel that it is really their company. In a growing business it is important to give the staff a real interest in our future development."
Under the scheme each of the company's 36 employees who have completed two years service will receive each year, in addition to normal pay, sums equal to 4 per cent of their salaries after tax provided they agree to use the money to purchase ordinary shares in the, company. The shares will rank in every respect with ordinary shares already issued. Employees agree, however, not to transfer the shares until five years before normal retirement age, although special provision is made in the event of retirement due to illhealth.
The purpose, Mr Bartup points out, is not simply to give a concealed bonus or annual pay-outs in the form of dividends. "I don't believe," he said, "that bonuses are as important as paying fair salaries based on the qualifications and experience of people. Under this scheme the company's profit
ability will be reflected in the value of their shares. Shareholders are unlikely to receive dividends — we never have paid dividends, even to family shareholders, preferring to plough profits back into company development.
"Another benefit to employee-shareholders will be that as the company grows more successful and their shares increase in value, it will enable them to build up a fund for retirement," he said.
Trevor Williams Ltd — which now incorporates the old family business, Bartups Ltd of Brighton, brought back into the fold last year — operates a fleet of 12 vehicles, including three 8-ton articulated trailers. In addition the company's warehouses can accommodate the contents of 230 Names under specialized storage conditions.
Mr George Bartup is the immediate past president of the NAFWR and is a recently elected Fellow of the IFWRI. His brother and fellow-director, Mr Eric Bartup, is in charge of the Brighton organization.