Zetter’s profit-share pays out 1.9 weeks’ extra wages

Hotel and restaurant firm the Zetter Group has paid its staff an extra 1.9 weeks’ worth of salary since launching its profit sharing scheme last year.

The scheme, which was introduced by the company in July last year, is the first of its kind in the hospitality industry, according to the firm, and was inspired by the John Lewis Partnership.

Jason Catifeoglou, partner of the group, said: “As partners we are delighted to be sharing the success of our business with the amazing people that work with us. In this first year of the bonus pool we are delighted at how it has been received by our teams.

“We hope it demonstrates the value we place on loyalty and longevity and recognises that without our excellent colleagues none of this would be possible. We are very excited about the growth of the scheme in the years to come and hope many other hospitality businesses will follow suit.”

The profit sharing scheme is open to all employees who have been at the company two years or more and pays a bonus calculated as a percentage of salary, making it equitable across the company’s portfolio which comprises the Zetter hotel, the Zetter Townhouse and Grain Store.

In addition to the scheme, employees also receive benefits such as neck and shoulder massages, private loans, referral bonuses up to £1,000, wine purchase at cost and bike and travel cost loans.