Marks & Spencer announces biggest ever investment in pay and family leave policies
Marks & Spencer is to invest a record £89 million in retail pay and £5 million in enhancing its maternity, paternity and adoption policies.
From 1 April, the rate of pay for around 40,000 UK customer assistants will increase from £10.90 to £12 per hour. For those working in London, the rate will rise from £12.05 to £13.15.
Meanwhile, UK team support managers will have their hourly rate upped from £12.20 to £13.05, with those in London seeing it increase from £13.35 to £14.20.
The move will mean that since March 2022, M&S has invested more than £146 million in its overall retail pay package.
Stuart Machin, chief executive, said: “Our vision is to be the most trusted retailer – and that starts with being the most trusted employer.
“That’s why today we’re making our biggest ever investment in our retail pay offer to recognise our colleagues for the vital role they play each day.”
Also on 1 April, M&S will be will be making improvements to its maternity, paternity, and adoption policies. This will include introducing six weeks’ paternity leave at full pay from 1 April and the doubling of maternity and adoption leave to 26 weeks, also at full pay.
Machin added: “But creating a great place to work isn’t just about pay; it’s about the overall package and colleagues feeling valued and able to be their best. That’s why, in addition to our pay increase, I’m delighted to announce some significant improvements to our family leave policies to support colleagues through life’s big moments.”
