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Bed retailer Dreams has announced that it is providing support for its staff during the cost of living crisis, starting with a £5m package as part of its “people first strategy”.
The company plans to advance a pay raise that was due in April 2023 to December 2022. The pay increase will be anywhere between 4.3-8.6%, with Dreams stating that the majority of staff will receive the higher pay boost.
This will be the second pay rise Dreams has awarded its staff this year, following a pay review in April. Dreams’ executive team will not receive a pay rise.
The company will also offer a number of other benefits including discounts on high-street food retailers including Asda, Iceland, Tesco and M&S, free out-of-hours GP service and medical appointments, free financial support via The Retail Trust and continued discounts on any products in store and online.
As well as this the 208 Dreams stores across the country will close on 21 December, giving
staff time off to celebrate with friends and family. Stores will reopen for trading on Boxing Day.
CEO Jonathan Hirst said: “We know that the rising cost of living and recent interest rate
spikes means that life is getting harder, not easier for lots of people, including our colleagues. Our absolute focus is making sure that Dreams continues to be market-leading and here for the long-term. Looking after our fantastic colleagues and putting them first is our priority; they are what makes our business what it is.”
He added: “Despite a challenging operating environment, we wanted to do more to look after our colleagues and their loved ones through this period.”
