We want to help and so, earlier this year, we responded to the emerging cost of living impact and invested in our reward and benefits. For example in our annual salary review, our UK colleagues received a minimum base salary increase of £1,500 and we also introduced a global personal development fund to support them with their career development.
Since then we recognise the continued cost of living pressures our people are experiencing and made a commitment to invest a further £5m in our employees. This includes an additional base salary increase of £1,500 for our lower paid employees, the introduction of a global Hardship Fund to support those experiencing extraordinary financial challenge, and an expansion of our leadership incentive scheme to enable engagement and performance.
Steve Wadey, CEO: “We know our people are worried about the cost of living, and I am really pleased that we are able to help them during these challenging times. We have been thoughtful in our decisions; listening to them and focusing our support on where it is most needed.”
Amanda Nelson, Chief People Officer: “We passionately believe our people, across the globe, make our company and we care about their experience working at QinetiQ. We are genuinely listening to feedback, taking action, and spending time engaging with our teams. Our commitment is more than just words, we are doing everything we can to create a safe and secure environment in which we can all thrive.”