A new Inland Revenue advertising campaign backed by Gordon Brown, faces a tough time according to a survey* by online personal finance service - norwichunion.com.
A new Inland Revenue advertising campaign backed by Gordon Brown, faces a tough time according to a survey* by online personal finance service - norwichunion.com.
The share incentive plan (SIP) aims to encourage more workers to buy shares in the businesses that employ them with a view to making them feel they have a stake in the company.
According to the chancellor of the exchequer, Gordon Brown, "There is no better incentive and motivation for the employees than for the work to be recognised and for them to share in the firms success."
However, fewer than one in ten of the shareholders questioned by norwichunion.com said they acquired company shares because they wanted to play a role in their company’s future.
Nearly a quarter of the adult working population owns shares in the company they work for, but only 15 per cent actually believe that their shares represent a good investment. Nearly two thirds of them feel that their investment doesn't actually give them any sense of company ownership.
Paul Stokes, head of marketing at norwichunion.com, said, "The idea that staff who own shares in their company will somehow feel more involved in its success doesn’t appear to ring true in the majority of cases."
"Our research shows that the overwhelming reason for owning company shares is as a means of making money (23 per cent) with very few employees seeing share ownership as being linked to their individual performance or that of their colleagues."
norwichunion.com's online share dealing service can only found at www.norwichunion.com.
Press contact:
David Ross at Norwich Union on 08703 66 68 65
Notes to editors
- * This survey was carried out by Taylor Nelson Sofres between 18-20 January 2002. 1,003 people, aged 16+, were interviewed on the telephone across the UK.
- norwichunion.com was launched in May 2001 and provides a comprehensive range of free, interactive financial planning tools and impartial money guides, designed to help people make better financial decisions by making complex money matters simple.
- A fund supermarket ISA, offered by NUSOF.com Limited, and share dealing service are the first in a range of products that will subsequently include a number of banking products.
- Norwich Union is the UK’s largest insurer offering a comprehensive range of long-term savings and general insurance products.
- Norwich Union’s news releases are available on this internet site
- A selection of images is available from the Norwich Union Newscast site at www.newscast.co.uk
- An ISDN facility is available for studio quality interviews. Call the press office on 08703 66 68 68
For life and pension media enquiries 08703 66 68 73
For all other media enquiries 08703 66 68 68