AJN Steelstock Limited, one of the UK’s largest steel stockholders, has brought forward its annual inflationary pay review programme to help its staff cope with the growing impact of the cost of living crisis.
Usually carried out in July, AJN has moved its inflationary pay review and is awarding a 10% salary increase to its 415 employees, effective from 1st May 2022.
Courtney Bell, AJN Steelstock’s Finance Director, comments, “Our staff are the heartbeat of the company and our success is, in no small part, down to each and every one of them.
“We are all aware of the rising cost of energy, petrol and food, and as inflation continues to rise we want to offer some practical support to help with these escalating costs.”
With steel processing sites in Kentford, Suffolk and Henstridge, Somerset, AJN Steelstock supplies structural steel to the UK construction industry and is recognised as one of Britain’s leading mid-market private companies.
In 2021, the company was identified as one of London Stock Exchange Groups ‘1,000 Companies to Inspire Britain’ (for the third consecutive year), and recognised as one of the fastest growing companies in the UK with a listing in the Sunday Times PwC Top Track 250 league table.
“We have an amazing team at AJN”, adds Courtney. “Everyone plays their part and with their constant willingness to adapt to the changes imposed on us we’re fully committed to looking after them in any way we can.”
“We carry out an annual performance and salary review as part of our employee support package but we felt the cost of living crisis that everyone is contending with was significant enough to do a little bit more during this time of need.”