More than 20,000 workers at TELUS can now tap into the company’s stock-option plan as the company extends the program beyond management-only circles.

TELUS officials announced the move last week as part of an incentive program to retain and attract talent in the telecom industry as the company continues its expansion.

Company president and CEO Darren Entwistle says the plan is part of several recent initiatives by TELUS to create a high-performance culture as a competitive advantage in a marketplace hungry for skilled workers.

“We’re in a situation right now in the telecoms industry where the demand for talent far exceeds the supply,” Entwistle told Business Edge.

Darren Entwistle

“It is a war for talent out there, and we need to address that proactively, not wait until it comes and bites us in the ass . . . move now and recognize the value of our employees.”

Entwistle noted that with recent reports of a shortage of skilled workers in Canada, the company felt it important to motivate and reward employees by linking employee wealth creation to company performance.

Under the new plan, employees have been granted 100 stock options in TELUS Corporation Inc. non-voting shares at an exercise price of $34.88, a price based on last Wednesday’s average price of a non-voting share.

Employees will receive a further 100 stock options in each of the next two years, bringing the total number to 300.

The stock-option plan is offered with the same terms and conditions senior managers already receive, said Entwistle.

According to the Conference Board of Canada, only 6.5 per cent of mid- to large-sized businesses in Canada provide universal employee stock options.

“People have never been more important to the success of an organization, particularly within the telecommunications industry, than they are right now,” said Entwistle.

“We believe our competitiveness in this marketplace is determined by those people closest to the customer, fighting day in and day out to retain existing business and to exploit new opportunities.

“That’s exactly the group of people this plan is intended to reach.”

New employees hired over the next few months will also be included in the plan. On Monday, the company’s shares were trading at about $38.