Living Wage
January 5, 2015
On 1st October 2014, we were pleased to announce that D.G. Controls became a Living Wage Employer. Here at deegee we have a solid, long-serving team, and we hope they enjoy the benefits!
What is The Living Wage?
- An hourly rate set independently and updated annually
- The Living Wage is calculated according to the basic cost of living in the UK
- The current National Living Wage is £7.85 an hour
- The current London Living Wage is £9.15 an hour
- Employers choose to pay the Living Wage on a voluntary basis
- The Living Wage enjoys cross party support, with public backing from the Prime Minister and the Leader of the Opposition
- Paying the Living Wage is good for business, good for the individual and good for society
What are the benefits?
GOOD FOR BUSINESS
An independent study examining the business benefits of implementing a Living Wage policy in London found that more than 80% of employers believe that the Living Wage had enhanced the quality of the work of their staff, while absenteeism had fallen by approximately 25%.
Two thirds of employers reported a significant impact on recruitment and retention within their organisation. 70% of employers felt that the Living Wage had increased consumer awareness of their organisation’s commitment to be an ethical employer.
Following the adoption of the Living Wage PwC found turnover of contractors fell from 4% to 1%.
GOOD FOR FAMILIES
The Living Wage affords people the opportunity to provide for themselves and their families.
75% of employees reported increases in work quality as a result of receiving the Living Wage.
50% of employees felt that the Living Wage had made them more willing to implement changes in their working practices; enabled them to require fewer concessions to effect change; and made them more likely to adopt changes more quickly.
GOOD FOR SOCIETY
The Living Wage campaign was launched in 2001 by parents in East London, who were frustrated that working two minimum wage jobs left no time for family life.
The causes of poverty are complex and in order to improve lives there should be a package of solutions across policy areas. The Living Wage can be part of the solution.
Further information can be found at http://www.livingwage.org.uk/
