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The Zetter Group reveals results of profit sharing scheme for staff

27 August 2015 by
The Zetter Group reveals results of profit sharing scheme for staff

The Zetter Group of hotels and restaurants has paid staff almost two weeks' worth of extra salary after introducing a profit sharing scheme last year.

The scheme, which the firm claims is a first for the hospitality industry, was inspired by the John Lewis Partnership.

Its first year of bonus pool results show employees received an extra 1.9 weeks' pay in addition to existing bonuses and incentives.

The scheme is equitable across all staff at the Zetter Group's venues including the Zetter Townhouse, Zetter hotel in Clerkenwell and Grain Store in King's Cross.

It is open to all employees who have been with the company for two years or more, irrespective of seniority and pays a bonus calculated as a percentage of salary.

The results come after several restaurant chains have been accused of misleading customers over service charge and in some cases effectively using it to take worker's pay over the National Minimum Wage.

Restaurants in the spotlight recently include Bill's, Côte, Las Iguanas and Turtle Bay.

Jason Catifeoglou, partner of the Zetter 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's 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."

He added: "We are very excited about the growth of the scheme in the years to come and hope many other hospitality businesses will follow suit."

In addition to the profit sharing scheme, the Zetter Group employees also receive neck and shoulder massages, access to private loans, referral bonuses of up to £1,000, wine purchase at cost, and bike and annual travel card loans.

The Zetter Group opened its latest property Zetter Townhouse, Marylebone earlier this month.

The Zetter Group was founded by Mark Sainsbury in 2004 with the launch of the Zetter hotel in London's Clerkenwell. Catifeoglou, who joined the company in 2009, heads its operations, sales and marketing, finance and human resources functions.

The firm came 12th in The Caterer's list of the Best Places to Work in Hospitality for 2015.

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The Zetter Group announces profit sharing scheme for staff >>

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