Jet2.com and Jet2holidays is giving all employers a pay rise of 9% this April, as well as an extra 1% of profits for those in its share scheme, to reward “the best colleagues in the industry”.
The announcement was made by its chief executive following the company’s decision last year to increase pay by 8%, award £1,000 thank-you bonuses, and give staff five extra days of annual leave.
Steve Heapy wrote in a letter to employees: “We have the best colleagues in the industry, and this is reiterated constantly with all the customer service awards we receive. We remain committed to ensuring that we continue listening and reacting to their feedback as the business evolves, and we hope this will continue to make us their employer of choice for years to come.”
The airline and tour operator, which launched its sharesave scheme in 2022, is increasing the terms of the scheme for this financial year to allow those eligible to benefit from 6% of the profits instead of 5%.
HR Miriam D’souli said that the company had made calculations based on the cost of living and believes its decision was a big surprise for employees.
She said: “We think the annual pay review puts people in a positive place in terms of maintaining their lifestyles.”
D’souli explained that the move made sound business sense and that helping with the financial wellbeing of colleagues is important in improving their working life, alongside non-financial benefits.
She commented: “We’re also giving back more of the profit we make to our colleagues to recognise what they do for us. We want to look after our people and make sure we’re treating them the best we can. Most colleagues will get a share of that or be part of our generous bonus or commission schemes that are purely based on company performance, so everyone benefits from our success.”
One of the additional leave days awarded in 2022 has been permanently added to employees’ annual entitlement, and the company now wants to continue to recognise the hard work and loyalty of its workforce.
“It is a big investment, but we’ll get that back in productivity and loyalty,” added D’souli. “Engagement as a result of this is incredible. It makes everyone want to work harder together, for the success of the company. Jet2.com and Jet2holidays are in a good place and so we want to share that with the people that helped get us here.”
