Darlington Building Society has awarded its 190 employees with a one-off £1,000 payment and expanded its benefits package.
A £500 payment was given to the workforce this month in order to support them with cost of living challenges, with another £500 to be awarded in December.
To mark World Mental Health Day (10 October), the society also updated its benefits package to help bolster mental wellbeing. The update included a ‘MyDay’ holiday for 2023, and the alignment of holidays and pensions, so all staff have 25 days and bank holidays pro rata and an up to a 10% employer contribution respectively.
Andrew Craddock, chief executive at Darlington Building Society, said: “Darlington Building Society takes its role as an employer seriously. People spend a considerable proportion of their time at work so we put a lot into creating a safe and pleasant working environment for people to thrive in, by protecting colleagues’ wellbeing.
“Positive financial health directly links to positive mental wellbeing, which is why I was thrilled to announce a one-off payment to colleagues to help with the increases in the cost of living. From 2023, all Darlington Building Society employees will also be able to take a MyDay. This is in addition to their annual holiday entitlement, which already includes an extra day for their birthday, and is there for anybody who simply wants a day to rest and recharge.”
Earlier in the year, the society gave its workforce a pay increase above the real living wage, with every role benchmarked against the current market. It also provides mental health first aiders across the organisation and a range of health benefits including free counselling sessions through an independent third party.