Pret raises pay to more than £10 an hour for 6,900 staff, coffee subscription service used more than one million times a week: Pret A Manger has announced plans to invest more than £9.2m in staff pay, its biggest pay and benefits increase in its 36-year history. From 1 April 2022, 8,000 UK team members will see their pay increase from a baseline of £9.40-£9.56, to up to £10.15 per hour, with more than 6,900 team members receiving at least £10 per hour. Baristas will see pay increase from £9.88-£10.08 to £10.30-£11.05 per hour, depending on location and experience. Pret’s mystery shopper bonus will also increase by 25% to £1.25 per hour, taking it above £1 for the first time. The mystery shopper bonus is awarded to teams on top of their weekly pay for good service. Currently, more than 80% of staff receive the bonus on average each week. Pay rates will be applied the same across team members irrespective of age, although some differences may apply depending on the employee’s role, experience and location. With the mystery shopper bonus included, team member pay could be as high as between £11.05 and £11.40 per hour. The changes follow Pret’s decision to increase pay for UK shop team members by 5% in September 2020. Pret said the changes recognise the “resilience, hard work and dedication” of Pret’s shop teams through the covid-19 pandemic. Pret stated: “Team members have been the cornerstone of the business success over the past three decades, and as Pret’s transformation strategy moves into a new phase, the business is investing in pay and benefits to build on the progress made since 2020. This approach is also being rolled out globally across Pret’s markets outside of the UK.” Pret said it is in a position to make these changes as a result of the impact of its transformation strategy since 2020 and the stronger position the business is now in. Following the launch of Pret’s coffee subscription in September 2020, the subscription is now used more than a million times each week in the UK. Digital sales have grown since the relaunch of Pret’s online delivery programme 18 months ago, while Pret continues to grow its franchise partnerships across the UK and internationally, as well as expanding its retail product offer in supermarkets across the UK. Pret stated: “These new initiatives, coupled with the existing business recovering strongly during 2021, have ensured Pret is better positioned to deliver long-term, sustainable growth. Despite the recent rise in covid-19 cases as a result of Omicron, Pret’s business has demonstrated significant resilience over the past two months. Although in-shop sales have fallen as a result of recent government guidance, sales across other channels, including the Pret coffee subscription, have performed strongly.” In September last year, Pret declared its ambition to double the size of the business and open more than 200 new stores in the UK within the next five years. Pret chief executive Pano Christou said: “At Pret, nothing is more important to our business than making sure our amazing people are properly rewarded around the world. We’ve said all along that as our business recovered, we wanted to invest back into our people. Today, as we move into a new phase of our transformation strategy, I’m really pleased we’re in a position to do exactly that. After a difficult couple of years, it gives me so much joy to be able to give our hard-working shop teams this news. Crucially, when you combine our hourly pay, our 50% staff discount, and the Pret mystery shopper bonus, we’re proud to be one of the best employers in our industry. I remember from my time in shops just how important the mystery shopper bonus was, so we’re delighted to be able to take it to its highest ever level. When you combine it with the new rates of hourly pay, the majority of team members will have the chance to take home £11.25 per hour. We’ve got big ambitions for Pret’s future, and none of it would be possible without the hard work and commitment of our people. We hope that this announcement goes some way to thanking them for everything they’ve done over the course of pandemic – no one deserves it more.” Pret employs more than 8,500 people in the UK.
Pret features in Propel’s Turnover & Profits Blue Book, which is updated monthly for Premium subscribers and will feature more than 500 companies when the next edition is published on Friday (14 January). Pret has turned over an average of £586m in the past five years. The Blue Book, which is produced in association with Mapal Group, provides a five-year overview of turnover and profit, ranks companies according to turnover, pre-tax profit and profit conversion. The next edition will also feature group editor Mark Wingett’s next quarterly pick of the companies well-placed to grow in the post-pandemic era. His latest pick of companies are Brakspear, Simmons Bars, Hub Box, Park Holidays, Vaulkhard Leisure, Hostmore, QFM Group, Caprice Holdings and Ivy Collection. The picks are accompanied by a 2,100-word report. The Blue Book also provides details of directors’ earnings and highest paid directors. Companies can now have an unlimited number of people receive access to Propel Premium for a year for £895 plus VAT – whether they are an operator or a supplier. The regular single subscription rate of £395 plus VAT for operators and £495 plus VAT for suppliers remains the same. Email email@example.com to sign up