Received a company wide message today regarding pay that I presume is to help employees tackle inflation and rising energy costs. Which is a huge help and I’m honestly surprised this is even being rolled out!
“• A minimum pay award for everyone within our pay ranges at grades A-G of £2,000 pro-rata or 5%, whichever is greater.
• The maximum pay award will be £5,000, unless more is required to bring you to the minimum of your pay range. This allows us to focus our highest percentage awards to our lower earners.
• There will also be an additional £500 cash payment for those of you at grades A-D which will be pro-rated for those on part-time hours. This will be paid in December 2022, subject to agreement with our recognised unions.
• The offer amounts to a cash value typically in the range of 8 to 13% for everyone at grades A-D, that's around 43,000 of you.
• The salary range midpoints will increase – grades A and B by 10%, 6% at Grade C and 4% for all other grades.
• For grades D and E, we'll also raise the minimum salary to 90% of the midpoint for those pay bands. That's an improvement from 80%.
• Our minimum starting salary will also increase to £22,000 (including Flex), that's 10% more than the real living wage.
• If your current pay is above our new pay range maximums, you will still receive a pro-rated £2,000 award. This will be paid as a one-off cash payment in your April pay and not added to your monthly salary.”
I know it’s not much in the grand scheme of things but it’s nice feeling like a company acknowledges their employees struggles and actually does something about it.