Sainsbury’s colleagues share in company success with record £90million bonus pot
Sainsbury’s today announced more than 134,000 colleagues across the country will be sharing its largest ever bonus pot of over £90 million. The performance-related payout brings the total paid in bonuses up to £350 million over the last five years.
Yesterday the company posted its annual results, announcing it had grown underlying profit before tax by 6.2 per cent and total sales by 4.3 per cent in 2012/13. Sainsbury’s market share has also grown 16.8 per cent – its highest for a decade.
Chief Executive Justin King said: “This record bonus pot reflects the success we’ve seen which is down to the hard work and commitment of colleagues across the business. Our colleagues are the face of Sainsbury’s, keeping stores running smoothly and ensuring we help our customers Live Well for Less. So I’m delighted that 134,000 colleagues will share in the well-deserved, record payout.”
Colleague bonuses are paid according to profit and corporate sales, as well as individual store availability and customer service targets. The annual payout is part of a package of measures to reward and recognise our colleagues, as is part of making Sainsbury’s a Great Place to Work. We were pleased to be named as Employer of the Year by Retail Week, and accredited to Gold Standard by Investors in People. The bonus follows the announcement in March about the company’s Sharesave scheme, where 11,000 colleagues shared in a £4million profit as part of a £23million payout.
Sainsbury’s employs 152,000 people in over 1,100 stores. The company’s role as a job creator is one of its key responsibilities – both helping people into work and boosting the economy. 5,000 new job opportunities were created last year and the company also helps young people into retail careers through its Trainee Manager and Apprenticeship schemes. Teams in store are also given the opportunity to attend City and Guilds accredited training at one of Sainsbury’s seven Food Colleges. Over 26,000 colleagues have attended one of these courses, boosting specialist food knowledge and skills including butchery and bakery.