Inyati unveils staff share scheme
Inyati Game Lodge
African Safari, Wildlife Safaris
Inyati Private Game Lodge in the Sabi Sand Game Reserve has issued over 12 000 phantom shares, equivalent to five percent of the company, to its employees in a bid to reward staff loyalty and retain employee talent.
The phantom shares have a base value of over R3,6 million. Carlos Dos Santos, Director of Inyati, says while there are several taxation and accounting issues to consider, he believes the benefits of the decision are worth the complexity involved in its implementation.
“Providing employees with a stake in the business not only improves their sense of belonging and value but also instils the feeling that the better they assist the business in performing, the more value they'll see in returns through the worth of their investment,” says Dos Santos.
George Hlongwane, Head Ranger for Inyati says once the figures and concept had been explained it was met with a huge amount of enthusiasm. Inyati Lodge Managers, Keith and Francis Jenkinson agree. "One of the biggest changes is that staff have taken ownership of the lodge and their positions and, as a result, they are working better with equipment and saving on costs. The increased camaraderie that the programme fosters has made it easier to manage staff who, as individuals, are part owners in the business."
, Wildlife Safaris