WINNER: Valero Energy Ltd
Valero Energy Ltd pipped Phillips 66 (the highly commended entry) to the post, with their winning UK SIP and an ethos which puts share ownership at the heart of their recruitment and onboarding process. Valero Energy Ltd introduced their Valero Energy Ltd UK SIP in 2011. This plan offers one level of benefits to all UK employees regardless of seniority.
The plan enables UK employees to contribute up to the statutory annual maximum of £1800, which is matched by the employer up to £1500 per year. The Judges believe that the company’s plan design, their processes and their ethos of ownership undoubtedly helped them achieve an impressive 99.2% participation rate, making almost all UK employees shareholders in the company.
Valero Energy Ltd, through its subsidiaries, is an international manufacturer and marketer of transportation fuels and other petrochemical products.