Nationwide is the latest employer to offer workers a one-off bonus to help them cope with the cost-of-living crisis, Sky News reported.
On Monday this week, the building society said that it would pay a £1,200 bonus to 11,000 staff members as household bills rise and inflation continues to bite.
Cost-of-living bonus
Nationwide estimated that circa 61% of its workforce will be eligible for this bonus. According to the publication, the money will be paid in two £600 instalments and employees who take home more than £35,000 won’t be eligible for the payment.
Debbie Crosbie, Chief Executive Officer at Nationwide, explained that “the months ahead will be worrying for many people”, adding that the building society is “always considering new ways to help our members”.
She added: “But rising prices affect our colleagues too, and that's why we're providing this additional support."
Nationwide’s bonus to staff follows the likes of Taylor Wimpey, Virgin Money and Cadbury, who have all made similar payments to support the financial wellbeing of the workforce.
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