Staff share scheme's 'resounding success' as company saves £250k
WORKERS at precision engineering firm KMF have helped save the company more than £250,000 in the past 12 months.
The Newcastle sheet metal specialist launched its 'productivity share scheme' in 2010 to improve the performance of the business and staff.
Workers are asked to put forward suggestions, and then participate in putting them into practice.
Over the last year, those suggestions have saved KMF more than £250,000, which has been pooled and shared with successful entrants – £602 per employee.
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The balance is being returned to the business.
Managing director Gareth Higgins said: "The productivity share scheme has been a resounding success.
"From the outset we have had some incredible participation from our employees, and savings have been made across the board that will have a positive impact on the performance of the business and will benefit everyone.
"Customers will see improvements through changes to processes and the fact that we will be able to add to the investments that we had already planned for this coming year."