Retailer Marks and Spencer has announced pay increases and enhancements to its maternity, paternity and adoption policies.
As part of an £89 million investment, from 1 April the rate of pay for its 40,000 UK customer assistants will increase from £10.90 to £12 per hour, a 10.1% rise from last year. A full-time employee will see an increase of around £180 per month.
For customer assistants working in London, the hourly rate will rise from £12.05 to £13.15, a 9.1% increase on last year. UK team support managers will see an hourly rate increase from £12.20 to £13.05, while those in London will have a rise from £13.35 to £14.20. Each of its UK store employees will be paid the real living wage as their base pay.
Additionally, as of 1 April, Marks and Spencer will introduce six weeks of paternity leave at full pay and double its maternity and adoption leave to 26 weeks at full pay, equating to a £5 million investment. This is part of its commitment to provide more support and flexibility so employees do not miss out on moments that matter.
Stuart Machin, chief executive of Marks and Spencer, said: “Our vision is to be the most trusted retailer and that starts with being the most trusted employer. That’s why we’re making our biggest ever investment in our retail pay offer to recognise our [employees] for the vital role they play each day.
“Since March 2022, we’ve invested more than £146 million in our retail pay offer and increased our standard hourly rate by more than 26%. But creating a great place to work isn’t just about pay; it’s about the overall package and [employees] feeling valued and able to be their best. A huge thank you to our 65,000 [employees] for their continued hard work.”
The retailer’s benefits package includes an uncapped 20% employee discount across all M&S branded food, clothing and home products, up to 12% pension contribution, sharesave schemes, life cover of up to four times a salary, a 24/7 virtual GP service and employee assistance programme for employees and their wider family, free eye tests at M&S Opticians, six free physiotherapy sessions, Check4Cancer support and risk assessments, up to 12 weeks of fully-paid neonatal leave, menopause support and flexible working options for retail managers.