Employees juggle finances as Lloydspharmacy tightens belt
Salary Survey 2013 Multiple gave out fewer pay rises and bonuses than Boots or Co-op last year
EXCLUSIVE
Lloydspharmacy handed out fewer pay rises and bonuses than the other two large multiples last year, causing employees to make financial cutbacks, the C+D Salary Survey 2013 has revealed.
Only 42 per cent of the 123 Lloydspharmacy employees responding to the survey received a pay rise in the past 12 months, compared to nearly eight in 10 respondents working at Boots and the Co-operative Pharmacy.
Lloydspharmacy declined to comment on the findings, which revealed the multiple also tended to give smaller pay rises. Of the 61 Lloydspharmacy employees who did see their wages go up, nearly a third received an increase of less than 1 per cent.
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Only 42 per cent of the 123 Lloydspharmacy employees responding to the C+D Salary Survey 2013 received a pay rise in the past 12 months |
 More on C+D's Salary Survey 2013
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The average Lloydspharmacy pay rise was 1.8 per cent, compared with 2.3 per cent at the Co-operative Pharmacy and 3.1 per cent at Boots. |
Work suffers under ‘unhealthy' target pressure, employees say|
Bonuses followed a similar pattern. While 80 per cent of Boots employees and 37 per cent of Co-operative Pharmacy employees took home a bonus, only 17 per cent of Lloydspharmacy employees had received one in the past year. This resulted in more than half of Lloydspharmacy employees voicing dissatisfaction with their salary – higher than either Boots or the Co-operative Pharmacy. However, 44 per cent said they were "fairly satisfied". Nearly two thirds of Lloydspharmacy's employees said they had been forced to make financial adjustments over the past year, such as taking out a loan, remortgaging a property or, most commonly, cutting back on holidays. One respondent said they had taken a second job to cope with financial pressures, while another said they were borrowing from family to make ends meet. This figure compared to 43 per cent at Boots and 49 per cent at the Co-operative Pharmacy. |
Best and worst of the big employersBEST FOR...Bonuses Boots 80 per cent of employees received a bonus in the past 12 months, compared with 37 per cent at the Co-operative Pharmacy and 17 per cent at Lloydspharmacy …Pay rises Co-operative Pharmacy 80 per cent of Co-operative Pharmacy employees secured an increase in pay over the past 12 months – higher than Boots at 77% and Lloydspharmacy at 42 per cent …Working environment Lloydspharmacy Complaints of bullying, intimidation from management and stress were lowest at Lloydspharmacy WORST FOR...Management pressure Co-operative Pharmacy Nearly half of respondents working for the Co-operative Pharmacy said they had faced intimidation from management in the past year, compared with 28 per cent of Boots employees and 26 per cent of Lloydspharmacy employees …Salary satisfaction Lloydspharmacy Half of Lloydspharmacy employees were dissatisfied with their salary package, while only 17 per cent of their peers at the Co-operative Pharmacy and 31 per cent of Boots employees felt the same way …Stress Boots Stress levels were marginally higher at Boots, with 79 per cent of employees reporting the problem, compared with an average of 77% across all three multiples. C+D Salary Survey 2013 |
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