Pembroke Dock employee-owned healthcare business invests millions in its employees
Shaw healthcare, which operates a care home in Pembroke Dock, is showing its gratitude to its employees for their continued hard work and compassion throughout the pandemic by investing millions of pounds in the salaries of its staff.
The Government’s Autumn budget mandated employers to pay the increased National Living Wage and newly introduced National Insurance Levy which equates to an extra £3.4m spend in Shaw’s annual budget.
In addition to this, Shaw has decided to pay the “Real Living Wage” to all its employees regardless of length of service. This is a commitment to spend an additional £2.9m per annum on all employees’ salaries, which will result in a total investment of £6.3m for the Company. The move to pay Real Living Wage means that depending on employees’ roles and existing pay scale, from 1st March 2022 everyone at Shaw will see an increase in their salaries of between 3% – 10% per annum, with the lowest paid receiving the highest uplift. The minimum that any Shaw employee will earn is now £9.90 per hour.
Chief Executive Officer, Russell Brown, has been key in making employee-ownership a reality by implementing a series of actions to increase the sense of ownership, engagement, and involvement in the company; free shares, share options, opportunities to sell shares and in May 2020 creating an Employee Ownership Trust (EOT). Since then, the company has paid £2.3m in bonuses, each employee receiving up to £950 in tax-free payments. The successful transition to being an EOT places Shaw healthcare amongst the likes of John Lewis and Richer Sounds as the UK’s largest employee-owned companies and in the process establishes Shaw as the largest employee-owned healthcare company in the UK.
Russell commented: “As an employee-owned company, the decision to start paying the Real Living Wage from 1st March 2022 feels like a natural progression. We whole-heartedly acknowledge that it’s our employees who enable Shaw to maintain an excellent level of care, even during challenging periods such as the pandemic. So, I’m delighted to announce that in addition to the bonuses that we’ve already paid there will also be a well-deserved pay increase for everyone as recognition for their dedication. Well done and thank you.”
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