London Living Wage : A Fair Days Pay
As Living Wage Week has taken place this month, we have been reminded of how important it is to offer a realistic standard of living to our workers. As a cleaning and well-being company, we place our employees at the forefront of our business. Here at CCM we pride ourselves on being a ‘People’s Business’ and believe that investing in our employees has huge benefits for both employee performance and the business overall. As a People’s Business, we believe that our employees deserve a fair days pay for their hard work and contributions towards our company. The real living wage offered to employees provides non-stop benefits that can be seen within the company and in our workers. By being a Living Wage Employer, we are demonstrating their commitment to the local economy and, as a result, the health and happiness of the people of London. The link between an increase in income and an increase in psychological and physical wellbeing is clear. We have found that since offering a more supportive wage, motivation and productivity levels have skyrocketed in our workers. We have also noticed better staff retention, fewer absences, and a stronger relationship between management and staff.
CCM is an accredited employer of the Living Wage Foundation, meaning that we have decided to voluntarily pay our staff the London Living Wage set each year by the Living Wage Foundation. This wage is completely independent of the National Living Wage offered by the government. We have decided to be a part of the Living Wage Foundation as we believe that the National Living Wage doesn’t reflect the true amount needed for employees living in London and their families. The National Living Wage in the UK is currently set at £7.83 for people over the age of 25 and the London Living Wage Foundation have set their 2018 rate at £10.55 for people working in London. This calculation is made according to the cost of living, based on a basket of household goods and services, which reflects the true cost of living in our surrounding areas.
New research has shown that it costs between 18% and 56% more for households to obtain decent living standards in London compared to the rest of the UK. This is due to a variety of things such as housing, public transport, and childcare, which are considerably more expensive in London. As well as the higher price of housing, childcare and public transport in London, costs are also influenced by how Londoners live. For example, people living in London said they do not need cars but they do need access to the underground (not just buses) which is more expensive than public transport elsewhere. Housing requirements are also different, with people accepting smaller spaces as the minimum in London. For example, a flat (which may not have outdoor space) is the minimum acceptable standard for a family in London, whereas a house is the minimum in the rest of the UK.
Living Wage Foundation Director, Tess Lanning, said:
“The Living Wage campaign is about tackling the rising problem of people paid less than they need to live. Responsible businesses know that the government minimum is not enough to live on, and today’s new Living Wage rates will provide a boost for hundreds of thousands of workers throughout the UK.”
“Employers that pay the real Living Wage enable their workers to live a life of dignity, supporting them to pay off debts and meet the pressures of rising bills. We want to see local councils, universities, football clubs, bus companies and the other major public and private sector employers in every city commit to become real Living Wage employers. When they do, thousands of people get a pay rise, but other local employers also follow their lead. If more of these institutions step up, we can start to build true Living Wage places.”
The London Living Wage has proven to be a win-win for not only our employees and business but our society also. We actively encourage any business that is not a London Living Wage provider to jump on the bandwagon and do your part in helping society. If you’re interested in taking a step towards improving the living standards for your workers then please visit the Living Wage website for more information on how to join.
https://www.livingwage.org.uk/
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