Marks & Spencer announces record investment in pay and family leave policies

Marks & Spencer has announced a record £89 million investment in its retail pay offer, alongside a further £5 million annual investment to improve its maternity, paternity, and adoption policies.

From 1 April 2024, the rate of pay for UK Customer Assistants will increase from £10.90 to £12.00 per hour, representing a 10.1% increase on last year and a 26.3% increase since March 2022.

For Customer Assistants working in London, the hourly rate will rise from £12.05 to £13.15, representing a 9.1% increase on last year.

The hourly rate for UK Team Support Managers will be lifted from £12.20 to £13.05 and £13.35 to £14.20 for those in London.

The investment means that since March 2022, Marks & Spencer has invested more than £146 million in its overall retail pay package.

It also means that every UK store colleague will be paid the Real Living Wage as their base pay, alongside other employee benefits.

As well as investing in pay for store colleagues, the retailer is also making improvements to its maternity, paternity, and adoption policies.

Coming into effect on 1 April, Marks & Spencer will be one of the first retailers to introduce six weeks’ paternity leave at full pay, while also doubling its maternity and adoption leave to 26 weeks – also at full pay – equating to a £5 million investment annually.

Last year, it was also one of the first retailers to introduce a Neonatal Leave Policy that provides up to 12 weeks’ fully paid leave to any UK colleague whose baby requires specialist neonatal care, without having to use up their maternity, paternity, or adoption leave.

Stuart Machin, CEO of Marks & Spencer, said: "Our vision is to be the most trusted retailer - and that starts with being the most trusted employer. That’s why today we’re making our biggest ever investment in our retail pay offer to recognise our colleagues for the vital role they play each day.

"But creating a great place to work isn’t just about pay; it’s about the overall package and colleagues feeling valued and able to be their best. That’s why, in addition to our pay increase, I’m delighted to announce some significant improvements to our family leave policies to support colleagues through life’s big moments."