Today, Wednesday 16 February, M&S has announced it is investing in its people and increasing its hourly rate of pay, with every store colleague across the UK set to earn at least £10 an hour, as part of a broader reward package.
From the beginning of April, over 40,000 colleagues across the UK will see their base rate of pay increase by 50p an hour rising to £10.00 (from £9.50), along with rates in London rising to £11.25 (from £10.75).
The M&S reward offer has been developed to reflect what matters most to its colleagues, with teams consistently naming base pay and health and wellbeing benefits as their priorities. The retailer’s investment ensures its base rate of pay is ahead of both the national living wage and the real living wage across the UK and in London.
In addition to its pay investment, M&S has enhanced its overall benefits package to better support colleague wellbeing and includes access to a Virtual GP service, health check screening and advice on financial management.
These newly expanded health and wellbeing benefits, combined with M&S’ 20% discount across products from its Food and Clothing & Home ranges and generous pension, means the retailer has one of the strongest all-round reward offers in retail.
Steve Rowe, CEO, said, “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.”