Britain’s biggest wine retailer is to increase pay for its store managers in an attempt to prevent one in four of them leaving the business each year.

Majestic Wine is introducing new share incentive plans and overhauling cash bonuses for its 213 store managers, who typically earn a £30,000 salary – up from £28,000 in November – plus an annual bonus.

A cap limiting bonuses to £1,000 was scrapped in November – a first step to reduce the high staff turnover.

Majestic is introducing a new long-term incentive plan for the top 25% of staff, from store managers upwards. Shares will vest over three years, when employees acquire ownership subject to company performance.

The plan will pay out if the firm performs well compared with 25 listed specialty retailers. There will be a separate share incentive plan for other staff. Majestic employs about 1,500 people.

The retailer said it had consulted its biggest shareholders, representing 58% of the group, on both share schemes.

Image courtesy and full source can be found at : https://www.theguardian.com/business/2016/jun/09/majestic-wine-raises-store-managers-pay-retain-staff-share-incentive-bonus