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  • Writer's pictureBaljit Kaur

M&S's Record Investment in Pay and Family Leave Policies

Marks & Spencer (M&S) has unveiled its largest-ever investment in retail pay, with an £89 million injection set to elevate wages for its UK Customer Assistants and Team Support Managers. Effective from April 1st, 2024, the hourly rate for Customer Assistants will rise to £12.00, representing a significant 10.1% increase from last year and a remarkable 26.3% surge since March 2022. Similarly, London-based Customer Assistants will witness an hourly rate elevation to £13.15, marking a 9.1% boost from the previous year. Team Support Managers will also experience an uplift in hourly rates, reaching £13.05 across the UK and £14.20 in London.

This investment showcases M&S's commitment to bolstering its retail pay package, which now exceeds £146 million since March 2022. Furthermore, every UK store colleague will receive the Real Living Wage as their base pay, complemented by a plethora of benefits including an uncapped 20% colleague discount, a pension contribution of up to 12%, and access to various health and well-being services. M&S's support extends to specialised leave policies, with enhancements to maternity, paternity, and adoption leave. Notably, M&S will introduce six weeks of paternity leave at full pay and extend maternity and adoption leave to 26 weeks, both at full pay—amounting to a £5 million annual investment.

These improvements underscore M&S's commitment to fostering a supportive and inclusive work environment, ensuring colleagues have the resources and flexibility to navigate significant life events. As CEO Stuart Machin affirms, this investment not only recognises the vital role played by M&S colleagues but also underscores the company's ambition to be the most trusted retailer and employer.

Key Highlights

  • Record £89 million investment in M&S's retail pay offer. 

  • Hourly rates for Customer Assistants and Team Support Managers to increase significantly.

  • All UK store colleagues to receive the Real Living Wage as base pay, accompanied by a comprehensive benefits package. 

  • Enhanced maternity, paternity, and adoption leave policies, including six weeks' paternity leave at full pay and 26 weeks' maternity/adoption leave at full pay.

  • Demonstrates M&S's commitment to supporting colleagues through life's pivotal moments and fostering an inclusive workplace culture.

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