Asda, one of the UK’s leading supermarkets, has unveiled a significant update to its compensation and benefits strategy for its employees, highlighting its commitment to enhancing workplace satisfaction and financial stability for its UK workforce.
In a move celebrated by industry observers and employees alike, Asda has announced an increase in hourly wages for retail staff from £11.11 to £12.04, effective from July 1st, 2024. This change, which represents an 8.4% pay rise, underscores Asda’s position as the highest-paying traditional supermarket in the UK. The wage adjustment will be phased, with an initial increase to £11.44 on April 1st to align with National Minimum Wage adjustments, before reaching the promised £12.04. For those working within the M25 area, rates will ascend to an impressive £13.21 per hour.
Hayley Tatum, Asda’s Chief People and Corporate Affairs Officer, expressed her enthusiasm about the new wage structure, noting, “We have made a record investment in pay this year to recognise the great work our colleagues do serving customers every day.” Tatum further emphasized the company’s holistic approach to employee welfare, stating, “We understand that supporting our colleagues goes beyond pay and the workplace, which is why we continue to explore new benefits.”
In conjunction with the motivational pay rise, Asda has introduced two innovative colleague benefits designed to provide substantial support beyond the financial gains. First, the supermarket giant has partnered with Legal & General to offer the Care Concierge service, providing Asda employees with free access to expert advice on later-life care options for their loved ones. Rita Butler-Jones, Head of Defined Contribution at Legal & General, highlighted the service’s intent to alleviate the stress of managing later-life care alongside work and family commitments.
Additionally, Asda has teamed up with the Mortgage Advice Bureau to offer free, unbiased mortgage and protection advice to its employees. This service includes access to a budget planner app and the option for personal consultations via phone or video, tailored to fit the schedules of Asda colleagues. Sean Coleman, a Senior Mortgage & Protection Adviser at the Mortgage Advice Bureau, praised the initiative, stating, “We are extremely proud to be able to offer all Asda colleagues access to our completely free service, helping them navigate the complexities of the mortgage market.”
These new benefits, which are available to all 150,000 Asda colleagues at no charge, are part of a comprehensive package that includes 24/7 access to a private GP, unlimited mental health support, and flexible wage services via Wagestream, reinforcing Asda’s commitment to the overall health and wellness of its employees.
The Workers Union Says…
“Asda’s amazing package offerings not only enhance the financial wellbeing of its workers but also strengthen the support network available to them, ensuring they have the resources needed to manage both their personal and professional lives effectively.”
