Mellon Financial Corporation is competing for the full-service retirement and benefits consulting services for Fortune 500 firms. That may be why it decided to make sure its employees do not end up like the classic "shoemakers children".

The firm is offering a new stock option award program called "ShareSuccess" to all of its eligible employees. Under the award, eligible full-time employees are granted the right to purchase 150 shares of Mellon common stock. For eligible part-time and non-benefited employees, the grant is for 75 shares.

The new stock option grant will extend employee ownership throughout the corporation, Mellon officials said in a statement. 

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