Pocketing millions of pounds, is what bankers must think when seeing John Lewis, an employer that was indirectly or directly helped by the taxpayer like the case of Charlie Mayfield the John Lewis boss receiving £800,000 in salary and the same rate as others in bonus – 18%, and Mayfield receiving a paltry £200,000 for a senior banker.
All the same, it is the same John Lewis that is owner of their favourite grocer and where the bankers’ wives buy their washing machines and refrigerators and this is because the employees are usually much older and more experienced knowing more and having a way of caring more than the younger less experienced. John Spedan Lewis coined the slogan, never knowingly undersold and for 70 years that has brought people flocking to the stores.
The camaraderie between staff and customers at John Lewis is surely known by certain bankers for example there is no loud music played or screaming promotions and staff are partners and there is no separation due to status at work and there is even an internal newspaper and partners can write and complain to upper management about things they are unhappy with and this would not be tolerated in an way shape or from in a City firm.
The receive good discounts on products purchased and upon their retirement they receive a final-salary, non contributory pension and after having been working for 25 years they receive a six month paid leave and the growth of the company is done internally and not by way of acquisition. And they have seen recent growth of over 10% to over £8 billion.