PG Group Raises Employee Wages To Help Them Cope With Rising Cost Of Living

People around the world are living through one of the worst cost-of-living crises in recent decades. The COVID-19 pandemic, supply chain disruption and the ongoing war in Ukraine have sent inflation through the roof and seen the global economy pushed to the brink of recession.

Malta has not been spared, with workers and businesses alike struggling to cope with price increases across the board.

PG Group, the investment company behind ventures like Pama Shopping Mall, Pavi and Pama supermarkets as well as the Zara franchise, knows this first hand.

Thousands of Maltese families shop at each of their outlets each day, giving the company a pretty good understanding of people’s spending habits and how they have changed.

In recent months, PG Group has shifted its focus to optimising its supply chain, seeking to increase the direct sourcing of goods in a bid to keep prices as low as possible for consumers.

The company knows that its employees aren’t immune from rising prices and has taken the brave decision to increase salaries by an average of 11% in order to help staff through the present economic downturn.

PG Group employs 350 people across a diverse range of business activities, including real estate, supermarkets and fashion.

While the adjustment will impact the business’s bottom line in the short-term, PG Group understands that its workforce is key to its future success and that money invested in its wellbeing is money well spent.

As the cost of living continues to increase, businesses could be tempted to slash salaries or lay off staff to make up for a loss in sales. By doing the exact opposite, PG Group is ensuring its long-term success while also doing its part for the local economy which will need more companies to follow in its footsteps in order to soften the economic blow.

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