The Ringley Group has announced its third staff financial support measure in five months.
The firm has issued a one-off £750 winter fuel payment to its 115 staff across offices in London, Manchester, and Cardiff.
This followed a commitment in June to a 10% pay rise for all staff between now and 2025, while an immediate 3% pay rise was announced in April for staff who had been with the business for more than three years. The initiative was launched amid a 40-year inflation high of 10.1%.
Group managing director Mary-Anne Bowring (pictured) has urged the property industry to implement its own packages as employees face unprecedented inflationary pressures.
Employer support packages have so far been driven by major retailers, with the likes of Natwest, Amazon, Asda, and Morrisons supplementing central government measures. Yet similar initiatives within the property industry – that have been publicly announced – are in short supply.
Bowring said: “As providers of the basic human right to shelter, the property industry needs to be acutely aware of its social responsibilities to the public. This obligation must extend to and include consumers and employees. This is especially critical during times of insecurity, as finances become stretched, morale takes a hit, and emotional wellbeing is under threat.
“It goes without saying that the financial performances of businesses must be considered, but we urge those in our industry to discover efficiencies where they can and do what is viable – that could be in areas such as childcare, career development, or travel, for example. To borrow the tagline of a well-known supermarket, every little helps.
“ESG has become a key area of focus for real estate businesses, and by helping tackle the cost-of-living crisis the industry has a genuine opportunity to demonstrate its ability to be a force for social good.”
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