Total Reward Package 2024 - CG3c

YourTotalReward Package2024

Welcome to your 2024 Total Reward Guide

Every year O&CC looks to shape a Total Reward Package that both encourages and rewards colleagues for their hard work, and I’m really pleased to be sharing our approach for 2024 with you.

The heart of our business is you - our colleagues. Thanks to our success last year, we can continue to invest in our people and build capability within our teams.

By thinking commercially across all aspects of the business, as well as ensuring we operate effectively, we can remain financially stable and profitable. This ability to deliver flexibly is great news in today’s challenging retail climate.

In this brochure, you’ll find a wealth of information about all aspects of your remuneration, including the annual pay increase that becomes effective from April 1 and the benefits that sit alongside your base salary.

We aim to communicate impactfully with colleagues and information in this brochure is tailored to your colleague group. You will receive details specific to you as an individual over the coming days and weeks.

I hope all colleagues will take time to read and understand the content contained within these pages and see how they can make the most of the the reward package available to them. If you have any queries please speak to your line manager.

Claire Webber-Powell People Director

“The heart of our business is you - our colleagues”

What makes a great reward package?

We know different things are important to each individual across the business and with that in mind, we try to ensure we provide a wide range of benefits to create something that motivates everyone - your Total Reward Package.

Competitive salary - We want to attract and retain colleagues who are dedicated and put the customer at the heart of everything they do.

Colleague discount - Allowing colleagues access to exceptional savings on a range of products in store and online.

Enhanced benefits - From life assurance and critical illness cover to our electric car salary sacrifice scheme, money saving offers with Perkbox and more.

Reward and recognition - From a simple thank you to acknowledging a job well done, we want to show our teams they are appreciated.

Time for the outdoors - your holiday

O&CC is proud to offer a holiday allowance that is above the statutory minimum, which is a rarity in the retail sector.

Colleagues are entitled to 33 days (264 hours) paid leave (depending on your role, some of those hours may need to be taken on bank holidays).

For part-time colleagues, holiday is allocated on a pro-rata basis, while zero-hour colleagues’ holiday is accrued based on the number of hours worked.

Commemorating long service

We celebrate work anniversaries for every five years you spend with the business.

You’ll receive additional holiday in your anniversary year, a gift voucher, a certificate of achievement and at your five and 10 year anniversary, a different coloured lanyard to highlight your expertise.

More than just money

Did you know that you’re entitled to a fantastic range of perks as an O&CC colleague? You can view all the benefits you are eligible for in the Perks Hub section of Perkbox. They include:

Paid volunteer days

Colleagues can claim an extra day holiday to support a national or local charity or group that makes a difference to their community.

Employee Assistance Programme

Access to a confidential 24/7 mental health helpline provided by Legal and General and more. See following pages for more details.

Refer a friend

Recommend a friend or family member for a job vacancy and if they successfully pass probation, you will be eligible for a referral payment of £250.

Holiday buy scheme*

Colleagues can purchase up to an additional 32 hours holiday per annum (pro rata).

Sabbatical leave

Those with a minimum of two years’ continuous service are able to apply for up to six months sabbatical leave.

Electric car scheme*

Lease an electric vehicle through Octopus EV via the salary sacrifice scheme - both brand new and second hand vehicles available.

Cycle to work scheme*

Allowing you to purchase a bike and accessories (for travel to work) via a 12-month salary sacrifice scheme.

*National Minimum Wage checks apply

Your salary for 2024

We want to attract and retain the right colleagues, to ensure we put our customers at the heart of everything we do.

Our pay structure is competitive and fair and we benchmark ourselves against other businesses in the retail sector, as well as comparing our Total Reward Package against relevant companies.

O&CC also takes into consideration location, cost of living, local competition and the local resource pool.

Annual pay rise for 2024*

An increase of 4.5% will be applied to your current base pay.

Discretionary pay rise for 2024*

You may also receive an additional discretionary increase of 1.5%.

This would be a total pay increase of 6%*. You will receive a letter detailing your exact percentage rise prior to these changes coming into effect on April 1, 2024. If you have any questions, please speak to your line manager.

What could the changes mean for me

To help you understand the impact the changes may have on your pay, we have put together the following example:

A colleague who earns £58,000 per annum will see their base pay salary increase to £61,480 from April 1, 2024 (annual increase of 4.5% plus discretionary increase of 1.5%*).

Dependent on business and personal performance, they may also receive a pay out from the 2023 Bonus Scheme – details can be found in your bonus letter. This will be shared in March 2024.

*All remuneration increases are subject to eligibility. Examples where eligibility may be impacted include being a new starter, recent pay rise/change in role, being red circled, being subject to a performance improvement plan (PiP) or working out a notice period. Please note this list is not exhaustive.

Looking to the future

Our bonus scheme

O&CC operates a discretionary bonus scheme which runs from January to December.

Eligible colleagues will receive a letter detailing which scheme they are aligned to for 2024.

Payouts from the scheme are dependent on the business achieving it’s REBITDAL (profit) target.

The bonus payable is calculated taking into account your personal performance against the STAR framework and the achievement of your day-to-day objectives.

Any payment is pro-rated for colleagues who join during the year.

It is important all colleagues understand how they contribute to both their team’s and the overall business strategy and

Saving for retirement

Scottish Widows are an award-winning pension provider with a track record in responsible investments and good investment performance.

Colleagues are able to increase their personal pension contributions, with O&CC matching up to 5%.

You can amend your contribution percentage by contacting the People Team.

In 2023, we offered colleagues the opportunity to move to a salary exchange scheme - which means you don’t pay National Insurance on pension contributions. For more information click HERE

You can find out more and manage your plan online, including updating your personal details, seeing the value of your plan, review or change your investments and nominate a beneficiary. Click HERE.

We know it’s important

Enhanced maternity pay from 2024

We’re pleased to announced that from April 1, 2024, the first 10 weeks of Statutory Maternity Pay (SMP) will be payable at 90% of the colleague’s average weekly earning - this is an additional four weeks of SMP to the legal requirement.

The remaining 29 weeks of SMP is payable at a rate set by the Government for the tax year year or at 90% of the colleague’s average weekly earning if that figure is lower than the set rate.

Looking after our colleagues

Our Mental Health First Aiders are a group of colleagues who have undergone specialist training with Mental Health First Aid England and are on hand to offer advice and signpost you to suitable support organisations.

Conversations are confidential and colleagues can contact the team via email at MHFA@oandcc.com.

Someone will be in touch within 24 hours to schedule a conversation - which can take place via email or over the phone.

For those who would rather speak to someone external, the Employee Assistance Programme is available.

Help when you need it

Everyone in the business has access to our Employee Assistance Programme (EAP), a confidential 24/7 mental health helpline provided by Legal and General.

It includes information, advice, training and services to help you and your family. Call 0800 316 9337 and quote Outdoor & Cycle Concepts.

Support through the menopause

It is important that anyone going through the menopause feels that they work in an inclusive and supportive environment.

To ensure colleagues can talk openly about their (or their partner’s) struggles, we have

Plenty of perks for all

Your one-stop perks shop

All colleagues are given access to Perkbox from when they join the company. It's a one-stop shop for fantastic savings, wellbeing materials and giving hard-working colleagues a shout out.

It’s also the home for all your O&CC benefits - you’ll find information on what you are entitled to, as well as details on how to access or apply on the Perks Hub.

Saving you money

Log on to the Perks Hub to check out all the fantastic offers available. You can save on hundreds of great brands including supermarkets, high street retailers, restaurants, online stores and more.

Taking time for you

The Wellness Hub is home to a range of materials that can help with your mental health and general wellbeing. From workout videos to meditation audios, there is something for everyone to make use of.

Recognising great work

We are always keen to recognise great work. The Celebrations Hub is a place where all colleagues can give a shout out to those who have supported them - or just want to commend a job well done.

Volunteering

In 2023, colleagues across O&CC dedicated 1,000 hours to volunteering, with colleagues taking part in a range of activities from planting trees to litter picking, fence building to Race For Life event marshalling.

With your help, we want to increase this number in 2024. Application details can be found on Perkbox.

“I saved more than £300 on my groceries in 2023 thanks to Perkbox”

Take care of your health

TTaking care of your health is as important as ever and O&CC wants to support colleagues in looking after themselves. As part of your benefits, you are eligible for either Private Medical Insurance or Health Cash Plan for yourself. You can also chose to upgrade to cover for a couple at your personal cost*. In addition, if you opt for PMI cover, you are also entitled to self-fund Health Cash plan for yourself (approx £138*. There are no tax implications on this specific benefit).

Private Medical Insurance (PMI) is designed to cover acute medical conditions and allow you access to private healthcare providers. This has a higher tax implication as it is more expensive.

A Health Cash Plan allows you to be reimbursed for routine medical and dental expenses, such as eye tests and dental check ups. This has a lower tax implication as it is less expensive.

Colleagues only pay the tax on the cost of the insurance, which comes directly from your taxable income allowance. Your tax code would be amended by HMRC to reflect the benefit and the 'annual cost to colleague' is spread over the tax year.

You will receive a survey in April/May asking you to confirm which option you would like to take - or if you wish to opt out of the scheme.

Talking to our teams

Communicating impactfully across the business

To ensure colleagues are getting the type of information they need or want at a frequency that suits, we utilise four avatars - Earth, Air, Fire and Water. Each has a different set of preferences to ensure you get information in the right ways. You can change your avatar at any time by emailing Internal Communications.

We use a variety of channels to share information with colleagues including Peak News (weekly email newsletter), Ridge (monthly email newsletter), Newsday (fortnightly ‘Teams’ meeting), Happier Outside (bi-monthly podcast), surveys, colleague forums and more.

All of our communication supports STAR, our O&CC behaviour framework.

Be a STAR every day

In 2023 we launched our STAR framework, which outlines the five key behaviours all colleagues should be exhibiting.

It underpins our values and gives clear productive and counterproductive

The five points of our STAR are:

We think commercially

We operate effectively

We deliver flexibly

We build capability

We communicate impactfully

All colleagues are encouraged to embrace and live by the behaviours in their roles.

Your manager will look at these as part of the discussions that happen at your Mid Year and End Of Year Review.

Time to have your say

Colleague Voice

We welcome colleagues of all levels to join Colleague Voice, our colleague forum, which is held on the first Wednesday of the month via Teams.

It’s an opportunity to hear from senior leaders in the business, gain knowledge and understanding of topics, share your views, ask questions and provide feedback from teams across the business.

If you wish to take part, speak to your line manager or email Internal Communications to be sent the invite.

“It’s a great way to get your questions heard directly”

Share your feedback

Throughout the year we send out a number of Colleague Satisfaction Surveys to gauge the mood across the business.

Each survey contains a number of core questions, which remain the same each time and measure the ‘pulse’ of colleague opinions, as well as seeking views on a specific focus topic.

We cover a range of subjects including communication, learning and development, total reward packages, your role and more.

It’s important colleagues take the time to share their views and get involved in shaping future strategies, so please take the time to provide input.

Develop your skills

O&CC is dedicated to building capability - ensuring our colleagues have the opportunities to learn new skills and hone existing ones.

Learning and development is personal and all colleagues are encouraged to own their individual journey. There are numerous ways you can benefit through the business.

Training

Approximately 2% of O&CC’s total salary bill for 2024 will be assigned to learning and development, supporting our colleagues in being the best they can be.

From modules in the eLearning Academy to webinars, immersion events to external courses and everything in-between. Speak to your line manager to discuss options available to you.

Be Your Best Self

This fund is dedicated to offering colleagues an opportunity for personal development within their role. Examples of courses completed by colleagues to date include fiction writing, podcasting, video colour correction and non-violent communication.

For more information log on to Perkbox and check out your O&CC benefits.

Apprenticeships

There are more opportunities that ever to pursue a qualification while working for the business, and we have a number of colleagues currently completing an apprenticeship.

Qualifications can be obtained up to degree level.

“It’s fantastic the business is so invested in my development”

*All remuneration increases are subject to eligibility. Examples where eligibility may be impacted include being a new starter, recent pay rise/change in role, being red circled, being subject to a performance improvement plan (PiP) or working out a notice period. Please note this list is not exhaustive.

If have any queries, or believe you have received an incorrect brochure, please speak with your manager in the first instance.

All information correct at time of publication.