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InflationNational living wageRetailLatest NewsPay & benefits

Rising cost of living prompts Currys hourly pay boost

by Ashleigh Webber 15 Mar 2022
by Ashleigh Webber 15 Mar 2022 This is the second rise in a year for Currys employees
Pic: Currys
This is the second rise in a year for Currys employees
Pic: Currys

Technology retailer Currys has announced a 5.2% base pay increase for hourly paid staff, in response to the rising cost of living.

From 1 August 2022, employees who earn an hourly rate will see minimum pay rise to £10 an hour – taking staff pay above both the national living wage (£9.50 an hour for employees aged 23 and over from 1 April 2022) and the voluntary Living Wage rate, recommended by the Living Wage Foundation (£9.90).

While higher than the average pay settlement of 3%, Currys’ pay increase narrowly misses the CPI rate of inflation, which in January was 5.5%.

It will be the second pay increase for Currys staff in 12 months. In October 2021, it raised staff pay in line with the Living Wage Foundation’s recommended minimum rate.

The retailer said the pay increase is in recognition of employees’ continued support, expertise, and flexibility as it continues the transformation of its business.

Rising cost of living

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Chief people officer Paula Coughlan said: “We understand the mounting pressures from the increased cost of living and what this means for our colleagues. We want to make sure we’re doing our part to support them, and that’s why we’re proud to offer higher hourly base pay rates across our 10,000 colleagues. At Currys, our colleagues are our magic ingredient and it’s thanks to them we’re able to help everyone enjoy amazing technology.”

The organisation said it had also invested almost £25m into staff wellbeing, training and reward programmes.

From 1 April, new national living wage and national minimum wage rates will apply to all organisations.

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Ashleigh Webber
Ashleigh Webber

Ashleigh is editor of OHW+ and HR and wellbeing editor at Personnel Today. Ashleigh's areas of interest include employee health and wellbeing, equality and inclusion and skills development. She has hosted many webinars for Personnel Today, on topics including employee retention, financial wellbeing and menopause support. Prior to joining Personnel Today in 2018, she covered the road transport sector for Commercial Motor and Motor Transport magazines, touching on some of the employment and wellbeing issues experienced by those in road haulage.

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