London-based independent property group Kinleigh Folkard and Hayward (KFH) has awarded full-time employees a one-off £750 payment to support them during the current economic climate.
The property services group, which has more than 60 branches across London and 10 business divisions, handed out the discretionary payment in order to help its staff manage the ongoing cost-of-living crisis. The total amount awarded to the workforce was £700,000.
Kinleigh Folkard and Hayward’s managing director Lee Watts announced the bonus to employees at the firm’s annual awards evening.
Watts said: “My directors and I are very aware of the challenges people are facing in relation to the current cost of living situation. We have an incredible culture here at Kinleigh Folkard and Hayward and we know this is due to our people. We wanted to recognise their hard work and commitment, and we hope this payment will provide some assistance.
“I was extremely proud we were able to retain our workforce on their full salaries when the property market shut down during the pandemic, and I am proud we are in a position to support our people through another difficult period.”
KFH joins other employers in the property sector who have helped their workforce out financially. Housebuilder Taylor Wimpey paid 90% of its staff – those earning up to £70,000 – £1,000, while home construction firm Barratt revealed a £1,000 cost-of-living bonus for 6,000 of its employees below senior management level, to be paid out over a six-month period.
Other benefits provided by Kinleigh Folkard and Hayward include an uncapped commission structure, bonuses and incentive schemes, life assurance, financial support to gain qualifications, incentivised trips abroad, gym and retail discounts, a cycle to work scheme and an employer-funded health cash plan.