Online marketplace OnBuy is to offer its staff over £1 million in share options as a reward for their part in the strong growth of the business over the past year. The business had generated a 200 per cent uplift in its revenues and is now openly working towards an IPO. The allotted shares will enable staff to ‘cash in’ when the IPO takes place or become a longer-term investment.
CEO of OnBuy Cas Paton said: “We do the right thing by our retailers and customers, so it’s natural that we would do the right thing by our staff too – and we don’t believe any employee should have to be in the boardroom to benefit from company growth. We want to show that working for an eCommerce giant can be a hugely positive experience and our team is absolutely vital to our future success. We want to reward hard work financially, showing employees that they aren’t just a cog in the machine.”
More than 100 employees will benefit from the share options with allocations based on c.25 per cent of individual annual remuneration.
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