Marks and Spencer is increasing its hourly rate of pay from this April, with every store colleague across the UK set to earn at least £10 an hour, as part of a broader reward package.
From the beginning of April, over 40,000 colleagues across the UK will see their base rate of pay increase by 50p an hour rising to £10.00 (from £9.50), along with rates in London rising to £11.25 (from £10.75).
The retailer’s investment ensures its base rate of pay is ahead of both the national living wage and the real living wage across the UK and in London.
In addition to its pay investment, M&S has enhanced its overall offer, which has been developed to reflect what matters most to employees, with teams consistently naming base pay and health and wellbeing benefits as their key priorities.
Read more: M&S Food grows market share in 2022
A new benefits package will better support colleague wellbeing, including access to a virtual GP service, health check screening and advice on financial management.
The newly-expanded health and wellbeing benefits, combined with the retailer’s generous pension and 20% discount across products from its food and clothing and home ranges, means the retailer has one of the strongest all-round reward offers in retail.
“M&S is always at its best when we’ve put our people at the heart of it,” commented CEO Steve Rowe.
“The contribution our teams have made to support our customers and each other every day through some really challenging times has been remarkable. By once again increasing our investment into one of the best all round reward offers for store colleagues across retail, we’re making sure that every colleague whatever they do and wherever they work, is properly rewarded and supported at M&S.”
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