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SHARE PLANS
PUTTING PLANS THROUGH THEIR PACES
Are you making the best use of your company share plan? Whatever your goals, the Capita share plan ‘health check’ can make sure your plan is fighting fit for the future
C
KILMARTIN
Head of Business Development
DAVID
If you would like David and his team to give your share plan a free ‘health check’, contact him on +44 (0)20 7954 9773 or david.kilmartin@ capita.co.uk, or speak to your relationship manager.
SPRING 2010
apita’s David Kilmartin is on a mission to make sure that his customers are getting the most out of their share plans. That’s why he and his team have spent the last few months visiting customers to
give their share plans a free but thorough ‘medical’.
David, who has more than 20 years of experience in managing share plans, explains how the ‘health check’ works. “We sit down with a customer and find out exactly what their goals are for the share plan, and then see how that compares to their existing arrangements,” he says. “We can then identify any areas that need to be changed to make their plan more closely fit with those goals.
“For example, people often say to us: ‘I want every one of my employees to have shares in the company’,” says David. “But if you make it painful or unattractive to apply, that’s not going to happen. Our advice can make sure that clients achieve their ambitions at a reasonable cost.”
Of course, cost itself is often an issue and one of the key aims of the ‘health check’ is to identify ways to drive down costs – something that has been much in demand in recent months. One way to do this is to only send out electronic versions of annual statements and the other documentation that comes with any share plan. “In the past there has been a reluctance to move away from paper,” says David. “But many customers are now seeing the benefits of e-comms. The savings on printing and mailing out hefty bundles of documents can be
considerable. And it also helps to improve our clients’ green credentials, which is of growing importance these days.”
Another important part of the ‘health check’ is ensuring that it is tax efficient. “We know for a fact that there are plans being used that just aren’t tax efficient,” says David. “We are an administrator rather than a legal or tax advisor, but we can point our clients in the right direction to make sure that both the employer and the employee benefit as they should.”
David’s ‘health checks’ have been enthusiastically received by both existing and new customers, with many using the team’s advice to good effect. “Last year was a record year for switch business from other providers and January was our biggest ever month for new plans,” says David. “So we think our ‘health checks’ are going to continue to be much in demand in the year ahead.”
A CHECK UP FOR YOUR SHARE PLAN
» Review long-term goals of the share plan
» Maximise employee engagement
» Provide an e-communications strategy
» Ensure your share plan choices are tax efficient
» Review your plans alongside market trends
» Work in partnership with an experienced team at Capita
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