Have any members started their 2023 pay award planning? A lot has happened in the market since we completed our 3 year plan provision at the beginning of the year... would be interested in some opinions on approach fixed/differentiated for head office populations. With the cost of living impacts it is more likely we will be spending more at our store colleagues and entry level roles in our head offices
Hi Marissa, great question! As it won't be possible to increase pay in line with the predicted cost of living, we are looking at a mixed approach. A standard increase of say 5%, or a minimum of say £1500, plus targeted increases for business reasons (e.g. retention, progression). We are also rolling out a new Financial Wellbeing programme, including debt advice via EAP, and how to guides to enable colleagues to use our benefits to save money (in both senses).