Currys has implemented a 9.5% increase in base pay for all of its hourly-paid store colleagues – some of whom will see their average rate increase above £13.95 after bonuses.
The tech retailer has increased its minimum hourly rate from £10.50 to £11.50, or £12.50 in London, but some may find their hourly pay is higher as they have an opportunity to earn a performance-related bonus.
It said “skilled” store staff, those who have passed their probation period, will earn on average £12.33 per hour when their performance is taken into consideration, while “top performers” will earn on average £13.95 an hour or more.
Pay increases in 2024
Pay growth continues to outpace inflation
Over the past three years Currys has increased minimum pay for store staff by 29%. This means that a colleague working 20 hours a week will have seen their annual earnings rise by nearly £2,700.
Paula Coughlan, chief people, comms and sustainability officer at Currys said: “Our passionate and dedicated colleagues are what make Currys special, and we’re delighted to be able to offer them this latest pay rise. We’re continuing to put our money where our mouth is and invest in our most important asset: our people. It’s what we said we would do, and we’re delivering on that promise.”
Currys said the pay increase represents a £13m investment from the company.
Other employee benefits on offer at the retailer include a 10% discount, share plans, and six weeks of paid gender reassignment leave.
The national living wage, the minimum rate employers must pay to employees aged 21 and over, will increase to £11.44 on 1 April.
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