Price Bailey employees awarded shares in new scheme
Price Bailey awards 300 employees with £250 in shares, as MD Martin Clapson hails 'inclusive' scheme
ALL 300 employees at Price Bailey will now have a stake in the firm, after it divvied out millions of shares.
Employees with more than one year’s service will receive 25,000 shares, valued at approximately £250. The Top 40 firm expected to pay out an annual dividend, and the value of shares is expected to increase by 10% a year.
MD Martin Clapson believes the scheme will help to further promote an environment where people feel included, valued and rewarded.
“I wanted to formally recognise their valuable contribution by giving them a share in the firm, to ensure that we harness the best ideas and retain our people, whether they are in support functions, management or a fee earning role, he said”
“This represents a real milestone in the long history of Price Bailey and I’m proud to refer to all Price Bailey employees as shareholders.”
Price Bailey has been busy redefining its offering in recent times. In October the firm took on Beechams, bringing eleven staff across into the practice. In 2013 it formed the first accounting ABS, a status awarded by the Solicitors Regulation Authority.
The firm is ranked 31 in the Accountancy Age Top 50+50 Survey, with £20.3m in fees.
In May, Grant Thornton unveiled plans to become a shared enterprise. Some 99% of the company’s 185 partners backed a proposal by the leadership team, led by CEO-elect Sacha Romanovitch, to issue a consultation on the implementation of a shared enterprise model.