Today the Clicks Group's Employee Share Ownership Programme (ESOP) celebrated their second employee payout to the tune of R 1.5 billion and naturally, we jumped at the chance to get involved.
Tracey Lange spoke to Clicks Group CEO Vikesh Ramsunder about ESOP and how it works.
ESOP, the Employee Share Ownership Programme, was established in 2011 and has since paid out a total of R 2.5 billion rands to 7,800 employees. The Clicks Group share price has grown by 360% since the scheme's implementation and this is the company's way of thanking their employees for their dedication.
What better way than giving them a direct benefit from the success and growth of the company and to share the wealth they helped to create.
What's remarkable about the Clicks ESOP scheme is that very few employees in retail have the opportunity to buy shares in the company they dedicate years to, and Clicks has bridged that gap. Ramsunder tells of the many employees who were able to buy a house or a car for the first time or even save for their children and grandchildren's education.
As you can imagine this payout has been incredibly life-changing and quite a significant gift to our employees!
Vikesh Ramsunder, Clicks Group CEO
Of the 7,800 employees that benefit from ESOP, 5,800 of them are currently employed. More than 80% of the employees benefiting from the scheme are black and nearly 70% are female, which is well in line with the group's transformation aims.
Today Clicks employees everywhere had a huge party!
We joined the festivities at their headquarters in Cape Town where they were treated to dance, music, and live entertainment from Early B and the legendary Vicky Sampson.
Listen to the full interview with Vikesh Ramsunder and Tracey Lange in the clip below