Jewellry brand Pandora has awarded its 2,600 retail employees across UK and Ireland a one-off bonus, following its 2023 financial results.
The organisation will pay out bonus payments starting at £100, which will increase depending on employees’ roles. The bonus is in addition to their existing monthly sales incentive programme.
The bonus, which is driven by Pandora’s commitment to retail and staff development, is due to its higher-than-expected group results for 2023. It saw a 12% growth during its fourth quarter following a strong Black Friday and Christmas trading period.
Since October 2022, Pandora has increased salaries by 14% for all UK and Ireland staff, and introduced a higher quarterly jewellery allowance of £500.
Rasmus Brix, managing director for Pandora UK and Ireland, said: “Our success last year is down to the immense efforts of our team members around the UK and Ireland, and we would like to thank each and every one of them for their commitment and hard work. Pandora is a brand that is built around the connect between our consumers, our sales team and our product.
“We continue to invest in our retail teams to ensure that they feel supported, motivated and incentivised in their careers. I’m happy and proud to be able to pay a one-off bonus, as recognition to all our retail staff who worked exceptionally hard in Q4 to deliver a strong end to the year.”
While its benefits offering varies depending on each country, Pandora offers its employees paid maternity, paternity and adoption leave, performance-based bonuses such as a monthly bonus of 10% if sales targets are achieved, 55% staff discount, access to an online discount and benefits platform that includes gym discounts, partnership deals and hospitality offers, and parties, incentives and gifts throughout the year.