One of the biggest general insurance providers in Britain has become the latest big business to announce a support package to help its workers through the cost of living crisis.
Hastings Direct – which has its national headquarters in Bexhill-on-Sea, Sussex, and hundreds of workers at its Leicester call centre – said staff earning up to £45,000 will benefit from an immediate minimum 5 per cent pay rise and a £500 bonus in October.
It said that added up to around £1,000 for everyone eligible between now and next March, and pay reviews would also be brought forward for those earning more than £45,000. Company directors and executive team members have not been included in the measures.
Hastings Direct said it was also providing extra support to colleagues including those on extended absence such as maternity or sick leave, and those who had only just joined the business.
On top of that, throughout October staff will also be able to take advantage of free meals in the company’s Bexhill and Leicester offices, while those experiencing the most acute financial difficulties can apply for help from a £200,000 hardship fund.
The Hastings Group saw gross written premium increase 6 per cent in the first six months of 2022 – compared to a year earlier – to £509.6 million. It recorded an operating profit of £61.9 million and profits before tax of £21.2 million for the half year.
Hastings chief executive Toby van der Meer, Hastings CEO said, “The rise in the cost of living is affecting everyone and the recently proposed tax reforms have created even more uncertainty.
“In line with our ‘4Cs’ cultural approach [colleagues, customers, company and community], our colleagues are our priority and therefore we’re pleased to announce these measures. We applaud other organisations that have taken similar measures and would encourage remaining companies to do the same”.
In a statement Hastings said: “We believe by creating the right culture for our colleagues, and giving them the right tools to do their job, they will do more for our customers, enabling us to grow the company profitably and sustainably and allowing us to invest in the communities we serve.”
