THE Springfield Group has announced it will gift its own National Insurance savings to its 898 employees, following confirmation the UK Government will reverse the 1.25% increase, which came into effect earlier this year.
Comprising Springfield Properties, Springfield Partnerships, Dawn Homes, Walker Group, Tulloch Homes, and Mactaggart & Mickel Homes, the Springfield Group revealed it had budgeted for the higher employer NI contributions and will ensure employees receive the benefit of the scrap by passing the amount saved on to them.
To achieve this, the housebuilder will award all employees an increase to their salaries. This, together with the employees own saving, should equate to a pay increase of around 3%, Springfield added. This follows two inflationary rises already awarded to employees this year as well as the introduction of private healthcare for all employees.
Innes Smith, CEO of The Springfield Group, said, “Last week’s announcement on National Insurance savings for individuals was welcomed. We have decided to bolster this saving for our employees by passing on the benefit that we, as an employer, will also receive.
“Looking after our employees is a fundamental core of our ethos. We recognise the pressure people are under with increased cost of living and we are very pleased to be able to offer additional support to our people in this way.”
