Majestic makes ‘biggest investment ever’ in staff pay

Majestic, the specialist wine retailer, has revealed it has made its “biggest ever investment” in colleague pay to recognise the “expertise and experience” of its store teams.

All store colleagues have been awarded a basic pay increase that takes their hourly rate to at least £10.60, ahead of the National Minimum Wage.

It also revealed the base rate has been brought in alongside a new incremental pay structure, which rewards colleagues for their Wine and Spirit Education Trust (WSET) qualification level, experience and tenure with Majestic, and the size of the shop that store managers and assistant managers are in charge of.

It means that store managers who are qualified to WSET Diploma level, highly experienced, and manage Majestic’s best-performing shops can earn as much as £11,700 more per year in addition to their base salaries.

Majestic’s store colleagues will receive an average salary increase of 6.7% in 2023/24 as a result of the new hourly base rate and pay structure.

It added they have also been awarded an additional £250 bonus as a thank you for their efforts over the past 12 months, and will retain the ability to earn uncapped bonuses based on their store’s performance against sales targets.

In 2022/23, the bonuses Majestic paid to store colleagues hit a record high following the second-biggest Christmas trading period in the retailer’s history.

Majestic confirmed the changes to the pay structure came into effect on 1 April 2023.

The pay increases come as Majestic seeks to accelerate its growth plan with the backing of owners Fortress Investment Group.

Majestic CEO John Colley said: “We are aware that it has been an increasingly challenging 12 months for our colleagues, with the rising cost of living impacting all of us as individuals, and the cost base of the Majestic business. These have been key considerations for the Board over the last few months as we looked at the best way to reward our colleagues for their ongoing dedication and hard work.

“The restructuring of the pay, reward and recognition structure in our Retail business marks the biggest investment we have ever made in store colleagues since the company was founded. The pay structure will not only help our people through current cost-of-living pressures, but also creates a scheme that gives all store colleagues the opportunity to earn more, learn more and progress their careers at Majestic.”