- Pay increase for hourly paid colleagues means minimum hourly rate will rise to £10.35 across the UK and to £11.43 in London from 30 October 2022
- Over 10,000 UK colleagues to benefit from third increase in 13 months
- Over past 13 months Currys has increased UK minimum hourly rates by 15.6%
- Currys’ continued investment has seen UK minimum pay increase by 38% over the past five years
Currys plc, the UK’s largest omnichannel technology retailer, has today announced an additional rise for hourly paid colleagues in the UK. From 30 October, rates will increase by a further 3.5% to £10.35 per hour (£11.43 per hour in London), the third rise in the last 13 months, one month after the latest rise came into effect. In total, Currys has increased base hourly pay by 15.6% in just over a year.
The announcement follows an extensive review by Currys’ cost-of-living group, set up earlier this year and made up of senior leadership from across the business, who have been developing Currys’ response to support colleagues. While the last hourly rate rise only came into effect last month, the current economic climate and feedback from colleagues has led Currys to boost rates again now, ahead of (and in addition to) the next regular pay review.
Alex Baldock, Group Chief Executive at Currys plc said,
“Every day, I hear from colleagues who are feeling the impact of the rising cost-of-living and we’re determined to do what we can to help. That’s why I’m proud to announce that we’re again increasing our minimum pay rates.
When it comes to more capable and committed colleagues, we’re putting our money where our mouth is. We’ve invested tens of millions over the last three years in supporting colleagues. Whether it’s more pay (minimum pay up 38% over the last five years in the UK), better bonus schemes, skills, new opportunities and career paths, we’ve invested. I’m proud of that and we’re a better business because of it.”
Paula Coughlan, Chief People, Communications & Sustainability Officer at Currys plc, said,
“Everyone has been having to deal with the increased cost-of-living and we haven’t underestimated what it means for our colleagues. While we have a range of ways of helping our colleagues at this challenging time, we know that boosting base pay is the most meaningful action we can take. We really mean it when we say that colleagues are our magic ingredient, it is thanks to their continued dedication that we’re able to help everyone enjoy amazing technology.”
In addition to this rate increase, Currys has a wide range of support and guides available including:
- Perks at Work, colleagues can save between 3-5% every week on shopping at major grocers such as Asda, Morrisons and Sainsburys.
- Financial Wellbeing, Guides and tools to manage money from Currys’ partner Salary Finance. Salary Finance may also be able to help improve Currys colleagues’ financial situation with responsible financial products. Currys also offers crisis loans for colleagues facing hardship.
- Colleague discount – 10% off selected products in-store and online and 20% off care and repair live
- Currys’ Employee Assistance Programme can offer counselling on budgeting, credit cards, pensions or savings. It's a free and fully confidential service, available to colleagues 24/7.
- Currys’ Wellbeing Corner provides extensive information and guides, such as a mental health masterclasses and educational resources.
- Currys’ Mental Health First Aiders & Champions. If colleagues want to speak to someone, the company has trained over 1,200 colleagues who are on hand to listen. They have been given the tools to listen and signpost colleagues to the right support.
Capable and committed colleagues are Currys’ greatest advantage and the business continues to upskill, multi-skill and reward its colleagues who are passionate and knowledgeable about tech, and proud to sell and serve customers.