£6bn asset management specialist announces cost of living support package for staff

The Ringley Group has announced its third staff financial support measure in five months, and called on the property industry to consider implementing their own initiatives as the cost of living crisis swells.

Ringley, which employs 115 staff across offices in London, Manchester and Cardiff, has issued a series of one-off payments and pay rises since April, the latest being a £750 winter fuel payment.

This followed a commitment in June to a 10 per cent pay rise for all stall between now and 2025, while an immediate 3 per cent pay rise was announced in April for staff who had been with the business for over three years.

Group managing director Mary-Anne Bowring has urged the property industry to implement its own packages as employees face “unprecedented inflationary pressures”. It was announced this month that inflation has reached a 40-year high of 10.1 per cent as energy, fuel and food prices spiral.

Employer support packages have so far been driven by major retailers, with the likes of Natwest, Amazon, Asda and Morrisons supplementing central government measures. Yet similar initiatives within the property industry, that have been publicly announced, appear to be in short supply.

Mary-Anne Bowring, commented: “As providers of the basic human right to shelter, the property industry needs to be acutely aware of its social responsibilities to the public. This obligation must extend to and include consumers and employees.

“This is especially critical during times of insecurity, as finances become stretched, morale takes a hit, and emotional wellbeing is under threat.

“It goes without saying that the financial performances of businesses must be taken into account, but we urge those in our industry to discover efficiencies where they can and do what is viable - that could be in areas such as childcare, career development, or travel, for example. To borrow the tagline of a well-known supermarket, every little helps.

“ESG has become a key area of focus for real estate businesses and by helping tackle the cost of living crisis the industry has a genuine opportunity to demonstrate its ability to be a force for social good.”

Ringley Group, established in 1997, specialises in asset management and operational strategies for residential real estate and the living sectors such as build-to-rent, student accommodation and later living.

The company currently manages a £6bn portfolio representing over 13,000 homes across the UK, with clients including Europa Capital, Patrizia, and Rise Homes.

By Matthew Neville – Correspondent, Bdaily

• Add me on LinkedIn and Twitter to keep up to date
• And follow Bdaily on Facebook, Twitter and LinkedIn
• Submit press releases to editor@bdaily.co.uk for consideration.

Looking to promote your product/service to SME businesses in your region? Find out how Bdaily can help →