A Manchester firm has become the latest legal business to offer staff help with the escalating cost of living. But Express Solicitors has responded differently to most firms giving out one-off bonuses by linking payments to staff salaries.
The firm announced that all 430 staff will receive the payment equivalent to one week’s basic pay in November this year. This is in addition to any pay review increases, performance bonuses or Christmas bonuses paid to lawyers and support staff.
James Maxey, managing partner of the personal injury specialist, said that the one-off contribution was to ‘recognize the value of our fantastic people, to go some way towards helping with the sharp cost of living rises this year, caused by factors outside of our control’.
Most firms offering cost-of-living help have chosen to pay a one-off sum to everyone, or given a bonus to staff paid less than a certain threshold.
Express Solicitors said that staff earning £20,000 would receive a bonus payment of £337 after tax, while those earning £50,000 would receive £772 net.
The firm said it expected to report a ‘strong year’ for turnover and profit for the financial year that ended this week. The statutory accounts for 2020/21 showed turnover of £32.1m which was an increase of over 14% on the previous year.
The firm’s workforce has increased by 100 in the past 12 months, with a record number of promotions across a range of positions due to be announced shortly.
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