Business

Kennedys presses ahead with salary increases and bonuses

Insurance law firm Kennedys has announced its annual global salary increases that were postponed from May for non-lawyer staff and from September for lawyers, will go ahead in November.

The firm said it took the “prudent decision” to pause the reviews to allow the board to monitor the impact of Covid-19 on the business. However, it said it has now taken the decision to press ahead and reward staff for their work.

The firm revealed the salary increases are performance based and apply to all eligible fee-earning and business services staff.

In June, the firm reported record turnover of £238m for the financial year 2019/20, a 9% increase on the previous 12 months. 

The company said: “The firm has prioritised job security for all staff as a primary objective over the last six months. We are one of only a few firms not to announce any redundancies, reduce staff hours, cut pay or place any staff on the Government’s furlough scheme during the pandemic. The firm also confirmed very early on that it would honour all staff bonus commitments this year.”

Kennedys said it will also honour all trainee and apprenticeship positions this year, with 27 trainees joining the firm this month and 11 apprentices joining in September, including for the first time two claims apprentices. 

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