// Dreams will be providing its staff with a financial and well-being support package
// The bed retailer has invested £5m in the initiative, which it says will support colleagues in the run-up to Christmas as the cost-of-living crisis
Dreams is set to provide an enhanced package of financial and well-being support for its staff in the run-up to Christmas amid the cost-of-living crisis.
The bed retailer is bringing forward its annual pay increase from April 2023 to December 2022 to enable staff to benefit over the winter period.
The increase will range from 4.3% to 8.6%, with the majority of team members being awarded the higher percentage.
This will be the second pay rise Dreams staff have received this year, following a pay review in April although the business said its executive team will not be awarded an increase.
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Other new initiatives being introduced include discounts on high-street food retailers such as Asda, Iceland, Tesco and M&S, and free out-of-hours GP service and medical appointments. The retailer will also be offering free financial support, budgeting guidance and debt management advice through The Retail Trust.
Dreams chief executive 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.”
In a similar move, earlier this month River Island was met with widespread praise after introducing care packages for its staff to support them during the cost-of-living crisis.
In a memo seen by Retail Gazette, River Island Kernan informed staff across stores and HQ that support packages – funded by the retailer’s founder Bernard Lewis – will be made available.
“These packages will be available to all Islanders across our stores and HQ from financial support and food/personal care packages to mental health and wellbeing support,” Kernan said.
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