Recognition and reward
easyJet’s approach to reward is critical to its ability to attract and retain people. We offer a competitive reward package designed to deliver a performance culture, with the emphasis on cash and variable pay rather than fixed benefits. The reward package includes an annual performance-driven bonus (based on personal and company performance) and share awards (based on the financial performance of the company).
easyJet is committed to being a Living Wage employer. All direct employees of easyJet in the UK are already paid above the UK ‘Living Wage’, established by the Living Wage Foundation, which is currently £7.85 per hour and is above the UK National Minimum Wage. easyJet is working with the Living Wage Foundation to discuss considerations for the airline sector, such as variable pay for pilots and cabin crew, as well as the potential to extend the Living Wage to employees of airline suppliers.
All easyJet employees, with a minimum amount of service, have the opportunity to become shareholders in the Company. At 30 September 2015 they held interests in 12.6 million shares between them worth £224 million.
All employees can join easyJet’s Save As You Earn scheme, which allows employees to save from money from their salary with the option to purchase shares. All UK employees can take part in Buy As You Earn scheme, in which employees can buy shares from their salary each month and easyJet buys matching shares. The UK schemes are approved by Her Majesty’s Revenue & Customs. easyJet also awards Performance (Free) Shares to employees.
easyJet employees may, subject to their holdings and the share performance, be able to realise gains in share value. For example, 1.5 million Performance (Free) shares vested during the year and the Save As You Earn (SAYE) scheme, which matured during 2015, had an exercise price of £4.18. The share price at 30 September 2015 was £17.77.
easyJet also offers a small number of associated airline benefits in line with the Company’s cost-focused approach. These include insurances and access to travel on easyJet services at cost price.
easyJet contributes towards a group personal pension plan in the UK and, where negotiated, to pension arrangements for its employees in Germany and Portugal.
easyJet aims to provide flexible working arrangements, part-time working and job sharing that fit its business model and the personal circumstances of its people.