TRA - Turners Automotive Group

Started by Plata, Aug 10, 2022, 06:12 PM

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Plata

https://www.stuff.co.nz/business/129292182/used-car-sales-have-plunged-and-prices-are-following

Hopefully they didn't stock up too much inventory otherwise might be some write-downs inbound?

blackie

"Turners launches employee share scheme"   :)

showing some class right there

Minimoke

Quote from: blackie on Aug 12, 2022, 05:15 PM"Turners launches employee share scheme"   :)

showing some class right there
Broadly I'm not a big fan of employee share schemes. I don't mind too much at exec level as a reward for delivering on superior performance.

But for general workers - its "no"

Sales people should be incentivized with low based pay and decent bonus structure based on completed sales.

Back office staff should get sufficiently rewarded by their wages, the compulsory kiwisaver, the increased sick leave and public holidays and the occasional ham at Christmas. And from this they can choose to invest in shares or spend up on holidays. Whatever they choose.

Any extra money going to back office staff is money not going to shareholders. Lets staff get rewards from the company by buying shares in the company and get dividends like everyone else.

winner (n)

Quote from: NZInvestor on Aug 12, 2022, 06:23 PMBroadly I'm not a big fan of employee share schemes. I don't mind too much at exec level as a reward for delivering on superior performance.

But for general workers - its "no"

Sales people should be incentivized with low based pay and decent bonus structure based on completed sales.

Back office staff should get sufficiently rewarded by their wages, the compulsory kiwisaver, the increased sick leave and public holidays and the occasional ham at chr***mas. And from this they can choose to invest in shares or spend up on holidays. Whatever they choose.

Any extra money going to back office staff is money not going to shareholders. Lets staff get rewards from the company by buying shares in the company and get dividends like everyone else.

Tend to agree with you NZInvestor - little evidence to show for the general staff  'hey I own shares so I'm going to work hard'

They might the warm fuzzies at the start but that will wear off pretty quick ...though some will spend time on the mobile checking the share price every few minutes .... and if the share price goes down?


working really hard

Basil

Easy to dismiss this sort of thing as trivial and not really motivational but for some people the ability to get $1,500 of shares for only $1,000 and you can pay it off interest free, its a pretty big deal.  I know its chump change to almost everyone on here but to others, just like wearing the lovely bright blue Turners polo shirts it fosters a feeling of pride and engagement and being part of the Turners team.

blackie

Quote from: NZInvestor on Aug 12, 2022, 06:23 PMBroadly I'm not a big fan of employee share schemes. I don't mind too much at exec level as a reward for delivering on superior performance.

But for general workers - its "no"

Sales people should be incentivized with low based pay and decent bonus structure based on completed sales.

Back office staff should get sufficiently rewarded by their wages, the compulsory kiwisaver, the increased sick leave and public holidays and the occasional ham at chr***mas. And from this they can choose to invest in shares or spend up on holidays. Whatever they choose.

Any extra money going to back office staff is money not going to shareholders. Lets staff get rewards from the company by buying shares in the company and get dividends like everyone else.

you sound a bit like one of the landed gentry out of Downton Abbey. I guess I relate more to the downstairs staff.
toss me a ham a christmas... ma lord   ;)

Minimoke

Quote from: Basil on Aug 12, 2022, 06:42 PMEasy to dismiss this sort of thing as trivial and not really motivational but for some people the ability to get $1,500 of shares for only $1,000 and you can pay it off interest free, its a pretty big deal.  I know its chump change to almost everyone on here but to others, just like wearing the lovely bright blue Turners polo shirts it fosters a feeling of pride and engagement and being part of the Turners team.
back in the day having a job was good motivation

Capt_Hook

Quote from: NZInvestor on Aug 12, 2022, 06:23 PMBroadly I'm not a big fan of employee share schemes. I don't mind too much at exec level as a reward for delivering on superior performance.

But for general workers - its "no"

Sales people should be incentivized with low based pay and decent bonus structure based on completed sales.

Back office staff should get sufficiently rewarded by their wages, the compulsory kiwisaver, the increased sick leave and public holidays and the occasional ham at Christmas. And from this they can choose to invest in shares or spend up on holidays. Whatever they choose.

Any extra money going to back office staff is money not going to shareholders. Lets staff get rewards from the company by buying shares in the company and get dividends like everyone else.

Wow what a terrible attitude, even for a shareholder. I agree with blackie !

Minimoke

Quote from: Capt_Hook on Aug 12, 2022, 07:54 PMWow what a terrible attitude, even for a shareholder. I agree with blackie !
if you want to own shares in a company that pays paper pushers more than the going rate at the expense of shareholders fill your boots. I prefer to reward the net revenue generators.

Minimoke

Quote from: blackie on Aug 12, 2022, 07:00 PMyou sound a bit like one of the landed gentry out of Downton Abbey. I guess I relate more to the downstairs staff.
toss me a ham a christmas... ma lord   ;)
for the sake of clarity im a bit more progressive than rewarding chimney sweeps with a bowl of gruel. But start giving them caviar and there won't be much left over for the owner of the broom.

PastorOfMuppets

Quote from: NZInvestor on Aug 12, 2022, 08:45 PMif you want to own shares in a company that pays paper pushers more than the going rate at the expense of shareholders fill your boots. I prefer to reward the net revenue generators.
Sack all the paper pushers and see how far the sales team get without any systems backup.

The experience I've had in places where the workers are invested (even in a minor way) shows it's a cheap way to improve morale, which goes a long way in improving the basic business metrics.
Less 'slacking', less 'sick days', better 'customer service'.

Basil

Quote from: PastorOfMuppets on Aug 12, 2022, 09:25 PMThe experience I've had in places where the workers are invested (even in a minor way) shows it's a cheap way to improve morale, which goes a long way in improving the basic business metrics.
Less 'slacking', less 'sick days', better 'customer service'.

You're on to it !

Minimoke

I'm all for rewarding those with unique and valuable skills. But if your back office functions are so complex you need "specially rewarded" people then that's a problem.

blackie

Quote from: NZInvestor on Aug 12, 2022, 08:49 PMfor the sake of clarity im a bit more progressive than rewarding chimney sweeps with a bowl of gruel. But start giving them caviar and there won't be much left over for the owner of the broom.

"Turners has partnered with online investment platform Sharesies to launch an employee share scheme. The scheme provides the opportunity for permanent (part-time and full-time) employees of the business to invest $1,000 and receive $1,500 worth of shares at the completion of a 3 year vesting period. In order to encourage broad participation the company is also offering a three year interest free loan to acquire the shares to all staff."

hardly "caviar" but delighted by the clarity and banter

Minimoke

Quote from: PastorOfMuppets on Aug 12, 2022, 09:25 PMSack all the paper pushers and see how far the sales team get without any systems backup.

The experience I've had in places where the workers are invested (even in a minor way) shows it's a cheap way to improve morale, which goes a long way in improving the basic business metrics.
Less 'slacking', less 'sick days', better 'customer service'.

you don't want to be giving the back office folk ideas beyond their station.