Technology retailer Currys has introduced a pay rise of 3.5% for its 10,000 hourly paid UK staff as of 30 October, announced just one month after a previous increase came into effect.
Hourly rates have been increased by to £10.35 per hour and £11.43 in London, in what is the third raise in the past 13 months, totalling a 15.6% increase during the period.
According to Currys, this decision followed an extensive review by its cost of living group, made up of senior leaders from across the business. The economic climate and feedback from employees resulted in the group deciding to boost rates again, ahead of, and in addition to, its next regular pay review.
Alex Baldock, group chief executive at Currys, said: “We’ve invested tens of millions over the last three years in supporting colleagues. Whether it’s our minimum pay which is up 38% over the last five years in the UK, better bonus schemes, skills, new opportunities and career paths, we’ve invested. I’m proud of that and we’re a better business because of it.”
Paula Coughlan, chief people, communications and sustainability officer at Currys, added: “Everyone has been having to deal with the increased cost of living and we haven’t underestimated what it means for our colleagues. While we have a range of ways of helping our colleagues at this challenging time, we know that boosting base pay is the most meaningful action we can take.
“We really mean it when we say that colleagues are our magic ingredient, it is thanks to their continued dedication that we’re able to help everyone enjoy amazing technology.”
Currys also offers staff an employee assistance programme, access to more than 1,200 trained mental health first aiders and champions across the business, 10% off selected products in-store and online and 20% off care and repair live, 3-5% discounts every week on grocery shopping, crisis loans, and financial wellbeing guides and tools.