BrewDog pays out over £300k in Blueprint bonus
The company estimated this was an average of £188 per team member and more than a third of employees have received over £250 with the total bonus payment equating to more than £300,000.
It also claimed it had seen lower staff turnover and absenteeism after revealing the scheme and it is expecting individual bar performance will also be improved over time.
To mark the occasion, BrewDog also launched a new beer – Blueprint IPA – a bitter, hoppy, dry-hopped IPA with lychee, passionfruit and pineapple.
Hard work recognised
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The Blueprint was first unveiled at the beginning of May, coinciding with the firm’s 15 year anniversary, with its aim to fully recognise the hard work the “fantastic team” put into the business and ensure a collective win.
As part of this, it meant each bar would share 50% of its profits with staff, paid twice a year. Furthermore, BrewDog co-founder James Watt pledged £100m of his personal stake in the company would be given to team members.
The company said based on the most recent fundraising valuation of £1.8bn, the award would be about £30,000 a year over four years to each eligible team member.
Shortly after the Blueprint was announced, BrewDog reported it had received more than 1,000 job applications in the 10 days since it launched the Blueprint.
Positive reaction
BrewDog CEO James Watt said: “We have been overwhelmed by the positive reaction to the Blueprint and this new bonus scheme.
“It’s early days but in just two months, the scheme is paying our material bonuses, which on an annualised basis, will help not only to attract and retain the very best in our industry but will also provide much needed support to our people as we all face huge increases in the cost of living.
“This is a revolutionary reward model but one we hope will ultimately be used as an example to the rest of the industry and we invite others to follow our lead.”
Watt recently spoke on Dragons’ Den entrepreneur Steven Bartlett’s podcast The Diary of a CEO and admitted to “pushing people too far” and setting “unattainable standards”.
He addressed the Punks with Purpose letter last June, which claimed staff were “left burnt out, afraid and miserable” by bullying.
