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Thank you for leaving us your review. We are of course always willing to receive and accept constructive feedback and we acknowledge that not everyone will always leave us on good terms, however we do feel that this review contains some claims and statements that are not entirely true and I thought it worth addressing some of these, in response to you.
You have referenced that “employee equity shares are worthless” – I gather from this that you are referring to a scheme set up by one of the businesses that was acquired by the group, and not Inspiretec itself – being only 3 years old, we have not yet been in a position to value the shares.
In the case of one of our acquired subsidiaries, when we acquired the business, share options were converted into long term loan notes for employees (who were given exactly the same rights as all shareholders). Earlier this year those employees (and ex-employees) were given the choice to take a smaller payment for these if they were repaid now (several years early) or else they could convert them into equity. Some chose to do take early repayment at the lower amount, and some chose not to. Either way, the shares were most definitely not “worthless”.
I can also confirm that we do not “gain tax breaks for giving employees shares” (we wish we did!).
I also wanted to let you know that we review salaries regularly, in an effort to ensure that our pay is not below the local market average. As part of these ongoing reviews, we are more than happy give pay rises, in relation to performance and have been able to offer a number of our employees promotions throughout 2019, as a result.
I thought it might be worth mentioning that we also pay out 5% of our total profit to staff as part of our One Programme each year. We did this in 2018 and look forward to doing the same in 2019.
Inspiretec has taken significant strides forward throughout this last year, and we are looking forward to a new year, where we can introduce further employee initiatives.
