An £89 million investment by Marks & Spencer will see staff wages rise to at least £12, the retailer announced today.
The new wage is in line with the Real Living Wage and will see staff in London paid slightly more, to deal with higher living costs.
The retailer also announced significant improvements to its UK maternity, paternity and adoption leave policies.
Pay Increases
From 1 April, M&S will increase the rate of pay for UK customer assistants from £10.90 per hour to £12. This represents a 26.3% increase since March 2022.
Customer assistants working in London will see their hourly pay rise from £12.05 to £13.05, representing a 9.1% increase on 2023.
For team support managers across the UK, their pay will increase from £12.20 to £13.05, while those in London will see their pay change from £13.35 to £14.20.
This latest investment means that M&S has invested more than £146 million in its overall retail pay package since March 2022.
M&S has also invested in its benefits package.
This includes a 20% discount available across M&S-branded products, a 12% pension contribution, neonatal leave of up to 12 weeks, and support for colleagues experiencing menopause.
‘Biggest-Ever Investment’
Speaking on the announcement, chief executive Stuart Machin said, “Our vision is to be the most-trusted retailer – and that starts with being the most-trusted employer.
“That’s why today we’re making our biggest-ever investment in our retail pay offer – to recognise our colleagues for the vital role they play each day.”
Machin added that, as well as increased pay, the retailer was focused on the overall package and how it would benefit staff.
He finished by thanking ”our 65,000 colleagues for their continued hard work.”
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