Craft beer gastropub chain BrewDog will award €100m in shares to staff and operate a radical 50% profit share with team members in its bars.
The Scotts beer marker has laid out its plan for the next 15 years as it looks to move beyond accusations of being a “toxic work environment”. And BrewDog’s latest Irish pub, on Washington Street in the city of Cork, could become a very attractive place to work, as the chain looks to reward staff far beyond minimum wage and tips.
Maverick brewer co-founder James Watt has announced plans to donate a fifth of his personal stake in the business to staff to mark the company’s 15th anniversary.
The share award is worth just under £100m, or around £120,000 for each of the 750 salaried “crew members” over the next four years according to the most recent fundraising valuation for the company. .
Shared prizes aren’t unusual, but in what has been described as a “groundbreaking move for hospitality,” BrewDog is changing the way bar staff are rewarded by sharing 50 percent of their profits with club members. team.
That could make BrewDog in Dublin and Cork the most attractive places to work in hospitality in Ireland.
Watt created the brewer in 2007 with co-founder Martin Dickie, but the pair have faced claims of running a fast-growing company that had a “toxic” work environment.
BrewDog’s co-owner said this was the beginning of a new era for the company, with its 2,200 workers located at the heart of the business.
“These radical new initiatives are aimed at ensuring we win together and fully recognize the hard work our fantastic team puts into our business,” said Watt.
“Our team and our Equity Punk community are now collectively the largest shareholder in BrewDog, making us truly a people-powered company.”
BrewDog is already hiring in Cork and the Court House should open at the end of June.