Elliotts Builders Merchants has announced that all of its 330 employees will be receiving a record-breaking pay increase, despite the current and ongoing economic challenges and uncertainty.
Commencing in January 2023, all staff employed by the Hampshire based, independently owned business, will benefit from a salary increase of £2,000 per annum. An initiative which will see the company’s annual wage overhead increase by over £700k.
This decision also means that no one working in the business above apprentice level, will earn less than the ‘Real Living Wage’, a rate set by the Living Wage Foundation, who are an independent organisation that campaigns for fair pay for workers. This rate of pay surpasses the government set ‘National Living Wage’, and is calculated based on the cost of living in the UK and updated annually. The ‘Real Living Wage’ is also different from the ‘UK National Living Wage’ in that it is voluntary for employers and not legally binding, and it does not exclude workers under the age of 25.
Although the financial forecast for the construction industry in 2023 is looking somewhat unpromising, Elliotts remains steadfast in its commitment to its core values of looking after and supporting its team and focussing on the long term.
Tom Elliott, Elliotts Builders Merchants CEO, said: “I strongly believe that it is important to reward our staff for their hard work and dedication, and to ensure they are able to support themselves and their families with a fair and adequate standard of living.
“Achieving a minimum pay grade that mirrors the Real Living Wage is a conscious and voluntary decision, which strategically bolsters the many staff benefits we have implemented that help us in attracting and retaining the best talent, enable us to foster a culture of respect and loyalty, and ultimately, assist us in achieving our long-term goals of delivering the best products and service to help our customers build with ease.
“We don’t focus just on the here and now at Elliotts, we focus on the long term and in doing what’s right for our staff. I’m more than delighted that we have once again been able to reward our entire team substantially, and in a way that I’m sure will make a real difference to them.”