What: Marks & Spencer (M&S) has announced a substantial investment in enhancing staff compensation and family leave policies, marking the retailer's largest commitment to employee welfare to date.

Why it is important: This initiative not only underscores M&S's dedication to becoming the most trusted employer in the retail sector but also sets a new standard for employee treatment within the industry. By aligning its pay with the Real Living Wage and significantly improving maternity, paternity, and adoption leave policies, M&S aims to boost morale, attract and retain talent, and demonstrate corporate responsibility.

Marks & Spencer has unveiled a groundbreaking investment of GBP 94 million aimed at increasing staff pay and enhancing family leave policies, reflecting the company's momentum in its turnaround strategy. This investment includes a GBP 89 million allocation to raise the pay of its UK retail staff to at least GBP 12 per hour, a move that benefits around 40,000 Customer Assistants and represents a significant increase from previous rates. Additionally, M&S is investing GBP 5 million to nearly double its maternity and adoption leave to 26 weeks at full pay and introduce six weeks of paternity leave at full pay, positioning itself as a leader in employee welfare among UK retailers.

This strategic move, effective from April 1, is part of M&S's broader vision to be the most trusted retailer by ensuring its workforce feels valued and supported. The initiative is expected to enhance the company's reputation, improve employee satisfaction, and set a benchmark for the retail industry in terms of fair compensation and support for employees during major life events.

M&S elevates staff welfare with historic pay and benefits boost