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Published on: 27 Märts Author: English en An increasing number of companies listed on the Swedish stock exchange are offering their employees share option programmes worth up to several billion SEK, and the early months of saw the announcement of new schemes in firms such as Swedbank and Skandia.
Employees seem delighted with the programmes - as long as the share prices keep going up. It has become increasingly common in Stock valikute allhanked for share option programmes to be offered to all employees and not just to managers and key personnel, although the value of the options sometimes varies between employees in different positions in the company.
Share option programmes give employees the possibility to buy shares in their company in the future, at a fixed price. The programmes operate over particular periods of time and may be repeated in order to incorporate newly employed staff.
While other forms of additional Stock Options direktor for employees exist in Sweden, such as bonuses and profit-sharing systems, at present it seems that share option programmes are the most popular. Competition on the labour market Stock Options direktor increasing, and many companies are striving to attract and retain people with the right skills - employee share option programmes can thus be seen as "bait" in the recruitment process, and a means to keep staff loyal and willing to remain in the company.
A further aim is to influence the staff to work more effectively, making them see the connection between work effort, the valuation of the enterprise and the contents of the "pay packet". According to the annual publication, Owners and power in Sweden's listed companies "Ägarna och makten", Anneli Sundin and Sven-Ivan Sundqvist, Ägarservice, FebruarySweden's four largest share option programmes are worth a total of SEK 6 Stock Options direktor at present 31 December stock exchange prices.
About 80 Swedish listed companies have share option programmes for at least employees in top management positions, though it is not known how many companies also offer share options to other employees.
The five companies with the largest option programmes for managers are, according to the report: the Ericsson telecommunications group whose programme is worth SEK 3 billion ; the internet consulting company Framfab SEK 1.
Recent schemes As mentioned above, some companies are now starting to offer share options to all their employees, or to groups of employees outside management. For example, under a recent proposal from the company board, during April and May Swedbank is offering about 10, employees share options.
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All employees can buy up to 1, share options each, while local bank managers are guaranteed 5, options each and the members of Swedbank senior management may buy 20, options each.
At the data consulting company Enea Data, employees together own share options worth SEK million in March One and a half years previously, all Stock Options direktor company's employees were offered share options in the company for SEK 18 per share.
Today, each share is worth SEK 1, on the stock exchange. The employees, out of a total ofwho took up the offer to buy have earned up to SEK 3. In Julythe share options will be paid to the employees as shares in the company. At the beginning of Marchthe multinational financial services group Skandia presented a new version of a share option programme which had attracted harsh criticism from shareholders when it was first presented in January The shareholders found the plan to distribute about 40 million free options over a period of three years, to be too expensive for the company.
The new version involves the Stock Options direktor of only 24 million options to all 5, Skandia employees.
Ericsson currently has three share option programmes, with two more planned for and The largest of the existing programmes involves the offer of The shares cannot, however, be cashed before In NovemberEricsson proposed a new option programme for 7, employees, including 5, in the USA, who will be offered 20 million options during the period from to Ericsson has a total of aboutemployees and has operations in countries worldwide.
The board chair, Lars Ramquist, Stock Options direktor Stock Options direktor a special general meeting, held in November in order to vote on the new share option proposal, that the programme offered a way of rewarding employees for good performance.
The decision attracted some criticism at the meeting for being somewhat ungenerous, in that it favoured the US employees. Another restricted scheme has recently been announced at Skandinaviska Enskilda Banken SEBa banking group with 21, employees, about half of them working outside Sweden.
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SEB's new option programme concerns only bank managers and involves, together with earlier offers, 6 million options. On the other hand, in the Enskilda Securities investment bank, part of the SEB Group, employees will possibly share about SEK million as a bonus related to the company's profits.
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On the trade union side, the Swedish Association of Graduate Engineers Civilingenjörsförbundet, CFwhich has members working in some of the abovementioned companies, takes Stock Options direktor positive attitude to share option programmes. A CF official, Mikael Rosengren, states that the union is especially satisfied that companies are widening the Stock Options direktor programmes, offering them to larger groups of employees.
However, his opinion is that the social partners will soon have to consider the issue again, bearing in mind that in the s there were some disputes where employees were not allowed to cash their options when they left the company for another job.
For the time being, the situation is favourable for many employees holding share options.
However, as the s showed, the value of options and shares may vary. The Swedish-Finnish forest products company Stora Enso is a current example of how volatile the value of options may be.
The company's share option programme was in early worth about SEK million.
Since then, the share price has fallen and in mid-March the programme was worth only about a third of that sum. In AugustStora Enso had offered "key employees" a stock option programme, which caused some anger with among firm's other workers SEN.
Commentary Share option programmes are, for the time being, a growing and relatively popular form of rewarding both management and other employees, as companies seek to recruit and retain "key personnel". Sectors like telecommunications and information technology are expanding and it may be particularly hard for these companies to keep skilled Stock Options direktor.
The schemes may also have a deeper aim of making employees feel positively attached to the company, promoting loyalty and involvement.
The pecuniary advantages of option programmes are obvious in times of climbing share prices, though the disadvantages are also evident. The employees offered share options have not yet protested - it is the external shareholders that are on the alert, feeling that their interests may be under threat.
Annika Berg, Arbetslivsinstitutet Useful? Stock Options direktor us what you think. Hide comments Eurofound welcomes feedback and updates on this regulation Lisa kommentaar.