B&Q is awarding £9m of shares in parent company Kingfisher to more than 300 store managers in order to maintain high store operating standards.
The scheme, revealed by Retail Week last month, is called “Let’s share it” and allows store managers who meet required store standards to acquire shares worth six months of their salary.
The shares grow over the next three years as long as standards are maintained. Managers could be paid an extra £25,000 as part of the scheme, which is part of the DIY giant’s aim to drive higher standards in stores.
B&Q and Kingfisher UK chief executive Euan Sutherland said: “Against a tough economic backdrop it is absolutely essential to have well-motivated, incentivised managers who know exactly what is expected of them. Rewarding managers who meet challenging store standards with shares is a really tangible way of making sure we do the best job we can for customers and reward our managers for their contribution to the growth and success of the company.”
The retailer will also invest £1m in improving the skills of its store teams.