Company Benefits
186k Ltd has the ambition to be widely recognised as one of the most admired employers within its field. As a start up organisation, our culture and values are still developing, but with the common goal of providing a challenging, rewarding and intellectually stimulating environment to make us an 'Employer of Choice'. It is therefore our intention to provide leadership and organisational structures that provide maximum mutual benefit, together with human resources strategies to attract, motivate and retain competent personnel.
Remuneration
We will adopt a competitive reward strategy, thereby contributing to employee motivation and enhancing the ability to attract and retain employees. To ensure that remuneration packages remain competitive, these will be set and reviewed in relation to the job market and benchmarked against competitors and other telecommunications providers. The reward strategy will develop and evolve over time, however, basic salaries will be set individually within a broad band framework and will take into account market conditions, the degree of responsibility and level of competence and skill of the individual. In addition to your basic salaries an element of variable pay and benefits will be offered dependent upon your role within the organisation. These include:
Stock Options
A Stock Option plan is being introduced to ensure that employees have a stake in their new company and act as an incentive and reward as the business is grown. A number of "Phantom" shares will be granted equal in value to an agreed multiple of salary. Although at the discretion of the Remuneration Committee it is likely that options will be granted each year over five years at varying option prices, option holders will be able to exercise and cash in their shares at defined times as determined by the rules of the scheme.
Bonus Scheme
The company operates a bonus scheme. The percentage amount of bonus awarded will be based on your individual performance reviewed over a given period. For employees working within the Sales function a separate commission scheme is in operation.
Profit Share and Sharesave Scheme
The company currently operates an Inland Revenue approved profit sharing and Sharesave scheme.
Private Health Care
The Company operates a Health Care scheme, which is designed to meet the main costs of providing private medical treatment. Eligibility for the scheme and level of cover will be outlined upon joining.
Company Car
For some positions you will be offered the use of a company car. If you are eligible to receive a car upon joining or become eligible through promotion you will receive full details of this scheme. The scheme also offers the flexibility for you to choose to take a company car allowance, rather than a company car should you prefer.
Pension Plan
The company pension arrangements are currently under review, a scheme will be offered in the near future.
Death in Service Benefit
Employees are covered on a 24-hour basis whether on company business or not. The maximum benefit for accidental death is calculated at five times salary. In addition employees who are members of the pension scheme are covered by a lump sum of four times their pensionable pay on their death prior to retirement.
Holidays
In addition to statutory holiday, your entitlement to holiday will be 20 days. The holiday year runs from 1 January to 31 December.
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