The introduction of ‘Shares for Rights’ contracts is arguably the most radical reform to UK employment law in the last 12 months.
These contracts were introduced by the Government at the start of September 2013 with the aim of helping to kick-start economic growth and encouraging businesses to recruit more easily.
The proposals, which were brought in as part of the Growth and Infrastructure Bill, allow businesses to award shares worth between £2,000 and £50,000 to their staff. In return, employees give up certain rights, including unfair dismissal, redundancy, training rights and also the right to ask for flexible working.
We asked over 500 UK companies about the new contracts, with questions about whether they were aware of them, analysis of whether they agree with the concept, how likely they are to introduce them and whether they feel that they will be helpful. The findings are detailed in our report.
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