A BUILDERS merchant has awarded all its staff a record-breaking pay rise in a move which will add more than £700,000 to its wage bill.

Southampton-headquartered Elliotts Builders Merchants says its 330 employees will have their wages increased by £2,000 a year from this month.

The decision also means that no one working in the business above apprentice level will earn less than the Real Living Wage, set by the independent Living Wage Foundation. The voluntary Real Living Wage is higher than the government’s National Living Wage and does not exclude workers under 25.

READ MORE: South Coast Business Awards 2023 open to entries ahead of launch

Elliotts said forecasts for the construction industry in 2023 were “somewhat unpromising” but it was committed to supporting its team and focusing on the long-term.

Chief executive Tom Elliott said: “I strongly believe that it is important to reward our staff for their hard work and dedication, and to ensure they are able to support themselves and their families with a fair and adequate standard of living.

“Achieving a minimum pay grade that mirrors the Real Living Wage is a conscious and voluntary decision, which strategically bolsters the many staff benefits we have implemented that help us in attracting and retaining the best talent, enable us to foster a culture of respect and loyalty, and ultimately, assist us in achieving our long-term goals of delivering the best products and service to help our customers build with ease.

“We don’t focus just on the here and now at Elliotts, we focus on the long term and in doing what’s right for our staff. I’m more than delighted that we have once again been able to reward our entire team substantially, and in a way that I’m sure will make a real difference to them.”

READ MORE: Retailers urged not to be so generous with returns policies

Founded in 1842, Northam-based Elliotts is one of the oldest family businesses in the south and has 13 branches. It boasts that there is never an Elliotts more than 20 minutes away from any building site in Hampshire.

The business also has specialist tool centres for the trade and public in Winchester and Portsmouth, its own roofing company, Elliotts Premier Roofing, and four kitchen, bathroom and bedroom showrooms named Elliotts Living Spaces.

Current chief executive Tom Elliott is the sixth generation of the family to take the helm of the business. His father, Stuart Mason Elliott, remains active as chairman.

Follow the latest business news from around Hampshire with our Capital Business Bulletin.