ITV NEWS : Business that has increased wages

We are a micro business with a small team of 5. To combat the cost of living, we gave our team a 10% increase in basic pay. Two reasons, firstly, retention and employee satisfaction; with such a tight labour market and high salary expectations for new starters, our strategy was to keep our highly talented team happy.

When the fuel crisis bit, we also bought CostCo cards for each team member; it saves them about £10 a tank which all adds up.

Finally, just this month, we have introduced private healthcare as a benefit for all. As a small business, this is mitigating risk, as I can not afford to have key team members on long waiting lists for treatment. The team also has access to 24/7 GP appointments and various other perks.