Worker pay within the retail sector has been rising at document ranges over the previous 12 months. Huge-name manufacturers like Marks & Spencer and John Lewis have joined the goldrush, saying “document funding” in employees wages to compete for expertise.
Partially, the pattern is a matter of legislation. In April, new minimal wage charges – together with a Nationwide Residing Wage of £11.44 per hour – got here into impact, creating a giant payroll invoice for outlets.
However in a retail panorama marked by model administrations and monetary uncertainty, hiked salaries are additionally an encouraging signal that retailers see investing in folks as their finest transfer to revive the excessive avenue and kickstart gross sales.
Our grocery store pay tracker is already monitoring the wage will increase for grocery retail employees. Under, you’ll discover a record of seven main excessive avenue manufacturers which have launched increased wages (and revamped worker advantages) for retail employees in 2024, in descending order.
B&Q
- Hourly wage outdoors London: £12.21 per hour
- Hourly wage in London: £13.55 per hour
B&Q was one of many earliest retailers to hop on the pay rise pattern this yr. In April, it elevated hourly charges for in-store employees to £12.21, giving roughly 16,500 staff an additional 90p per hour of their pay packet.
Excitingly for youthful staff, the rise will apply to all employees aged over 18 and these on an apprenticeship wage. Meaning trainees and teenage employees will earn round £450 extra per thirty days at B&Q on a 40 hour workweek than they might on the minimal wage.
CEO of B&Q, Graham Bell mentioned the rise would make pay on the DIY and residential enchancment firm “the very best of any main UK retailer.”
“We need to strengthen the competitiveness of our pay place out there in order that we proceed to draw and retain the colleagues we have to serve our clients and assist them enhance their houses,” Bell added.
What different perks do I get?
Working at B&Q comes with engaging monetary perks, together with a 20% in-store low cost, a beneficiant worker pension scheme with employer contributions of as much as 14%, and purchasing reductions at varied retailers and leisure manufacturers.
Uniqlo
- Hourly wage outdoors London: £12.15 per hour
- Hourly wage in London: £13.15 per hour
Japanese retailer Uniqlo introduced it could increase the hourly wage price for its UK workforce by 7% final month, upping pay for entry-level “retailer assistant” roles to at minimal of £12.15 per hour.
Uniqlo has amped up recruitment efforts in current months. The corporate’s operator, Quick Retailing, just lately revealed targets for 80% of its managers to be non-Japanese by 2030 because it eyes speedy worldwide growth. That features 10 new shops in Europe.
Chatting with Retail Week, Uniqlo’s chief working officer Alessandro Dudech mentioned: “For Uniqlo, our staff are our most useful belongings.
“By investing in a wage improve and a sequence of enhanced worker advantages, we hope to make sure our employees really feel valued and motivated to essentially contribute to the corporate’s success.”
What different perks do I get?
In addition to elevating salaries, Uniqlo has additionally despatched its staff dwelling with a goodie bag of advantages together with enhanced maternity pay and paternity pay for fogeys, an elevated vacation entitlement of 34 days, and a yearly £300 reward card for in-store purchasing.
Marks and Spencer
- Hourly wage outdoors London: £12.00 per hour
- Hourly wage in London: £13.05 per hour
This isn’t simply any pay rise. M&S introduced a serious £89m funding in employees wages originally of final month, bringing its retail pay in step with the Actual Residing Wage.
Since April, 40,000 buyer assistants have had their wage elevated to £12.00 per hour, representing a ten.1% improve on final yr. In the meantime, assist workforce managers have seen their pay packet surge to £13.05 per hour (and £14.20 per hour in London).
The bundle additionally features a beneficiant extension to parental go away advantages, together with six weeks’ paternity go away at full pay (beforehand two weeks) and 26 weeks’ maternity and adoption go away to 26 weeks – additionally at full pay.
Stuart Machin, Chief Govt, mentioned: “Our imaginative and prescient is to be essentially the most trusted retailer – and that begins with being essentially the most trusted employer. That’s why [we’re] making our largest ever funding in retail pay to recognise our colleagues for the very important position they play every day.”
What different perks do I get?
M&S’ worker advantages bundle is likely one of the most beneficiant in the marketplace. After the extension to parental go away, the retailer additionally gives a 20% worker low cost, 12% pension contribution, and a bunch of healthcare perks together with free eye assessments at M&S opticians.
Holland & Barrett
- Hourly wage outdoors London: £12.00 per hour
- Hourly wage in London: £13.00 per hour
It’s one of many main well being meals chains within the UK, and Holland & Barrett’s (H&B) worker pay can also be wanting so much more healthy in 2024. The corporate upped its hourly wages by 9% final month, guaranteeing flooring employees now earn a minimum of £12.00 per hour.
The brand new charges come off the again of a earlier wage rise on the firm in March 2023, and have benefited an estimated 5,000 employees members.
Nevertheless, H&B is hoping to extend that quantity in 2023. The model is doubling down on hiring with daring plans for growth after it reported important development final yr.
In a press launch, Holland & Barrett UK CEO Anthony Houghton, mentioned: “We have now thrilling plans for the enterprise within the yr forward, and sit up for persevering with to offer well being and wellness companies to clients nationwide for an additional 150 years.”
What different perks do I get?
H&B has among the healthiest employees in the marketplace. All employees additionally profit from a 25% employees low cost, a £50 product allowance, and subsidised well being and wellness {qualifications}.
Primark
- Hourly wage outdoors London: £12.00 per hour
- Hourly wage in London: £12.56 per hour
Primark will have a good time fifty years on UK excessive streets this yr. Final month, it celebrated that success by unveiling a 9.1% wage rise for employees, including to a deliberate £100m funding in its shops this yr.
Because of the pay increase, round 27,000 employees noticed their hourly wage improve to £12.00 per hour. The brand new price means workforce members will earn slightly below 4% greater than the Residing Wage, and provides an additional £1 per hour to pay packets.
Commenting on the speed rise, Primark UK retail director Kari Rodgers mentioned: “Our colleagues do an excellent job every single day serving our clients and we would like everybody to be pretty rewarded and recognised for his or her laborious work.
“We hope this pay improve goes a way in direction of demonstrating our continued thanks for all that they do in our shops and for our clients.”
What different perks do I get?
Primark’s advantages are usually not as beneficiant as different retailers. Nonetheless, it does provide a year-round 15% worker low cost to employees and 27 days of vacation. The corporate additionally purports to have a beneficiant pension scheme, though the precise employer contribution given just isn’t publicised.
John Lewis
- Hourly wage outdoors London: £11.55 per hour
- Hourly wage in London: £12.89 per hour
At the beginning of this month, John Lewis Partnership (JLP) – which owns each John Lewis shops and Waitrose supermarkets – launched a ten% pay improve for its 80,000 retailer employees, taking the common hourly wage to £11.55 for store assistants (£12.89 in London).
JLP, which at the moment employs round 76,000 folks, additionally made headlines this month when it revealed its full record of interview questions to assist candidates who may really feel daunted by the recruitment course of. However the transfer was about greater than goodwill.
Following years of turmoil – and the upcoming resignation of chairman, Sharon White – the corporate has been vocal about its plans for a turnaround. The newest, £116m pay funding is an indication that it thinks a powerful, motivated workforce shall be key to reaching these ambitions.
What different perks do I get?
JLP staff will profit from an in-store low cost of 25%, free meals at work, and £60 value of leisure vouchers. You’ll additionally obtain a share of the JLP revenue bonus (final yr, this was 3% of annual pay).
Nevertheless, it’s value noting that to fund this newest pay rise, JLP took cost-cutting measures that concerned slashing redundancy packages for employees to at least one weeks’ pay per yr of service.
Currys
- Hourly wage outdoors London: £11.50 per hour
- Hourly wage in London: £12.50 per hour
In March, expertise large Currys unveiled a “market-leading” increase to base pay and employees bonuses that has introduced flooring employees wages as much as a minimum of £11.50 per hour.
Eager-eyed groups may have seen that is solely marginally above UK minimal wage charges. Nevertheless, based on the corporate, high-performing gross sales employees will have the ability to improve pay as much as £13.95 by way of fee pay; a possible 21% uplift on the Residing Wage.
So as to assist employees obtain this degree of gross sales prowess, Currys says it’s going to additionally put money into a programme of studying and improvement to supercharge colleagues’ incomes potential.
Paula Coughlan, Chief Individuals Officer at Currys plc, mentioned: “Our passionate and devoted colleagues are what make Currys particular, and we’re delighted to have the ability to provide them this newest pay rise. We’re persevering with to place our cash the place our mouth is and put money into our most essential asset: our folks.”
What different perks do I get?
Currys’ techie workforce will obtain an 80% employees low cost on cellphones (20% on all different merchandise). There may be additionally life assurance at 4x your annual wage, the choice to purchase into the corporate’s worker share scheme, and restaurant and cinema reductions.
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