The annual performance-related bonus scheme was introduced in 2000 after ASDA became part of Wal-Mart. The average payout of £264 per colleague is also up on the £228 total for 2004 and takes the total bonuses paid to colleagues across the chain over the first five years to almost £70m.
The success and scale of the ASDA bonus scheme has kept pace with the company’s performance over the last four years. Despite having only 274 stores? – hundreds less than major competitors – ASDA is now Britain’s second biggest supermarket.
A colleague with a 100 per cent bonus will take home an extra £300 in Friday’s pay packet but many will earn more.
For the third year, colleagues outperforming their store targets will be pocketing up to 120 per cent of their annual bonus – that’s a payout of up to £360 for every full time colleague in the stores that hit the ‘Superbonus’ threshold?.
The all-colleague bonus scheme is part of a package of award-winning benefits that have put ASDA in the Sunday Times Best Companies to Work for list for the last four years. Colleagues can also watch their money grow through a generous sharesave scheme and collect free shares through Colleague Share Ownership Plan (CSOP).
" It’s the hard work and enthusiasm of our colleagues that has made the business a success this year." said Caroline Massingham, ASDA’s Retail People Director "It’s great to be able to share the rewards with them."
ASDA’s COLLEAGUES POCKET A £19m BONUS –
Editors’ Notes:
About ASDA
ASDA has 274 stores, 22 depots, six George stores and one ASDA Living (food free supermarket) store across the UK;
ASDA All-Colleague Bonus …
All stores qualify for at least a 20 per cent bonus payout. This year 139 stores achieved up to 100 per cent bonus and 142 stores hit targets between 100 and 120 per cent – the Superbonus threshold;
Who Qualifies and For How Much?
• Store colleagues qualify for the ASDA bonus scheme after six months service;
• Bonus payments are paid on a pro-rata basis. Time off for all type of extended absence including: career breaks, extended holidays etc will affect the final amount paid
