UK retailer Marks & Spencer is increasing its hourly rate of pay, with every store employee across the UK set to earn at least £10 (€11.98) an hour.
The increase in the hourly rate of pay is part of a broader package that the retailer is rolling out.
Marks & Spencer Employee Package
From the beginning of April, over 40,000 employees across the UK will see their base rate of pay increase by 50p an hour to £10.00 (from £9.50), along with rates in London rising to £11.25 (from £10.75).
The retailer added that it has designed the package to reflect the wishes of its employees, with base pay and health and wellbeing benefits named as priorities.
The increase ensures its base rate of pay is ahead of the national living wage as well as the real living wage across the UK and in London.
The package includes access to a Virtual GP service, health check screening, and advice on financial management.
These benefits are combined with the existing 20% discount across products from the Marks & Spencer food and clothing, home ranges and pension.
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Steve Rowe, CEO of Marks & Spencer, commented, “M&S is always at its best when we’ve put our people at the heart of it. The contribution our teams have made to support our customers and each other every day through some really challenging times has been remarkable.
"By once again increasing our investment into one of the best all round reward offers for store colleagues across retail, we’re making sure that every colleague whatever they do and wherever they work, is properly rewarded and supported at M&S.”
© 2022 European Supermarket Magazine – your source for the latest Retail news. Article by Conor Farrelly. Click subscribe to sign up to ESM: European Supermarket Magazine.