UK Living Wage rate rises to £7.85 an hour

2014-11-10 Jennifer Renney posted:

The Living Wage Foundation recently announced that the new Living Wage for the UK has increased by 2.6% to £7.85 per hour (£9.15 per hour for London), 21% higher than the current national minimum wage for adults at £6.50 per hour.

According to the Foundation there are over 1,000 Living Wage accredited organisations in the UK employing over 35,000 individuals. The Department of Energy and Climate Change recently announced that all of its employees, including third party contractors, would be paid the Living Wage.

In the last 12 months, the number of FTSE 100 companies paying their staff the Living Wage has increased from 4 to 18, with companies like Nestle, Nationwide and Standard Life now paying the Living Wage.

At present, over 5.28 million workers are being paid less than the Living Wage, with many working in the retail, catering and care sectors. As a result, some of these workers have to rely on the benefits system to top up their income or have to work two or three jobs just to make ends meet.

Paying the Living Wage may not be possible for every business, especially as some businesses are still trying to recover from the recession. But it is certainly not impossible to explore the feasibility of paying it. Benefits of paying the Living Wage include higher staff retention, productivity and reduced absenteeism, which are recognised by the thousands of businesses who pay the Living Wage to their staff.

If you require assistance with wages, contact Renney and Co Employment Solicitors today for fast effective relief on 01225 632240 or at info@renneyandco.com.

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