Digital agency launches staff profit-share scheme

Alphageek has launched a co-operative-style profit share scheme to ease the cost of living for its young staff members.

The digital agency, which is based in Derby, has brought in the scheme to add extra money to its 16-strong workforce’s incomes in return for their hard work.

The scheme is the brainchild of the company’s founders, Art Lindop, Kieran Flynn and Alex Mills.

They decided to take action following a busy year in which the company relocated to the city centre and grew staff numbers.

Alphageek’s staff are aged mainly between 20 and 26 and every month they will all be allocated a share of 10% of the company’s profits.

They can choose to save it all up until the end of the tax year and take it as a lump sum or can opt to take their bonus at the end of the quarter.

The scheme mirrors a profit-share scheme operated by bakers Greggs, which also hands out 10% of its profits to staff, and retailers John Lewis which, as a co-operative owned by its workers, pays them a yearly bonus.

Alex said: “We already pay above the Living Wage and have recently given pay rises too, but although our costs as a business have also soared, we wanted to be able to make a difference to our staff while also incentivising everyone and keeping morale raised.

“While some may be able to put the money towards a treat or a holiday, we’re very aware that increasingly staff are struggling to meet the day-to-day costs because prices keep going up.”