Currys has raised their staff pay for the third time in a little over a year to help staff with the cost-of-living crisis.
From 30 October, the retailer is increasing their rate of pay for workers by 3.5% to a minimum of £10.35 an hour, or £11.43 in London.
The rise, which will benefit around 10,000 hourly paid employees, comes just one month after a previous increase came into effect. The company has now increased hourly pay by 15.6% in 13 months.
Currys, which has more than 300 stores, said “the current economic climate and feedback from colleagues” had led to the extra pay rise before its regular pay review in the spring.
Alex Baldock, group chief executive at Currys, 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.”
Currys is also offering a discount of between 3% and 5% every week on shopping at major grocers such as Asda, Morrisons and Sainsbury’s as well as free counselling on budgeting.
The announcement follows an extensive review by Currys’ cost-of-living group, which was set up earlier this year.
It is the latest in a string of retailers which have raised staff pay to retain and to attract staff.
Last week, M&S gave staff a second pay rise in a year, increasing the hourly rate from to £10.20 from October 1.
Sainsbury’s have also increased staff pay for the second time this year, as well as Aldi and Lidl.
The supermarkets are also offering benefits such as free food while on shift for floor staff and warehouse workers as well as offering further staff discounts and in some cases vouchers to spend in store.