We have introduced a Staff Support Fund so eligible salaried employees can apply for interest free loans, and have provided access to a free online personal finance platform. In January 2023 we offered extra help to staff on lower salary grades, making a cost of living payment for eligible salaried employees on Grades 1a-5.
Cost of Living Payment
In 2023, to offer extra help to our staff on lower salary bands, we made a cost of living payment of £550 to full time, eligible salaried employees on Grades 1a-5. Those working part time received a prorated payment based on FTE.
Eligible staff received this payment in January 2023.
Eligible salaried employees at all grades who are struggling with unexpected costs or a change in personal circumstances, arising from the current cost of living crisis, can apply for an interest free crisis loan.
Those eligible can apply for a crisis loan of up to £2000 in order to help with critical bills or support that might be required.
We will be applying the new real Living Wage rate of £12 per hour from 1 November 2023. This is an independently calculated hourly rate of pay that is based on the actual cost of living. It is calculated each year and is announced by the Living Wage Foundation as part of Living Wage Week.
We will be increasing the hourly rates of staff whose wage is below these rates from 1 November 2023.