Becoming a Real Living Wage Employer means a lot for a company and the employees that work there, and at Prime Clean, we’re no exception. We think a lot of our staff, and for that reason we’re keen to cover the real cost of living.
As well as being good for society, there are also significant business benefits to paying the Real Living Wage, that’s why there are over 4,700 Living Wage Employers, including more than 1/3 of the FTSE 100 and household names including Ikea, Aviva, Nationwide and Everton F.C. to name but a few.
What Does A Real Living Wage Employer Do?
The (Real) Living Wage is a rate that requires an employer to pay their staff a higher sum of money, which is 100% voluntary. They also require having a plan in place to extend this rate of pay to regular sub-contracted staff too.
In order to become an accredited Living Wage Employer, a business is also required to pay all directly employed staff a Living Wage. The current Living Wage rate is £9.00 per hour, and £10.55 in London.
It was implemented following the Living Wage campaign, where communities and activists across the country worked to campaign until the new rate was officially introduced in a bid to cover the real cost of living.
In fact, in April 2016, the government introduced a higher minimum wage rate for all staff over 25 years of age that was inspired by the Living Wage campaign – even calling it the ‘National Living Wage’. The difference being however that the government’s ‘National Living Wage’ is not calculated according to what employees and their families need to live.
Instead, it is based on a target to reach 60% of median earnings by 2020. Under current forecasts, this means a rise to less than £9 per hour by 2020.
So, What’s the London Living Wage?
The London Living Wage, as mentioned previously, is the Living Wage within London, and currently stands at a rate of £10.55 per hour. Like the Living Wage, it’s a voluntary sum that exceeds the National Living Wage, but to help meet the higher living costs of workers across London, including all boroughs of Greater London, its higher than the Living Wage of £9.00 per hour.
What Are the Business Benefits of Paying the Real Living Wage?
There are lots of ways that Living Wage businesses can benefit from becoming Living Wage accredited… How?
Well, not only can being accredited work to improve the reputation of a business, doing so can also increase motivation and retention rates for employees. Additionally, being accredited can help to differentiate a business from others within the same industry, and for the Prime Clean team, we’ve found becoming accredited has allowed us to achieve all three.
We see it as a long-term investment in our people based on our values and our belief that a team with good compensation and working conditions is in a stronger position to provide a great experience to our customers.
Prime Clean Pay the London Living Wage…
At Prime Clean, we are recognised service providers proudly working together with the Living Wage foundation. This means we provide our personnel with the London Living Wage; the only UK rate based on living costs and what people need to live because we believe they are worth the extra £££’s.
If you are interested in partnering with us or would like to find out more about Prime Clean, our services and how we can help your company, then please contact us to find out more.