Franks & Co are celebrating Living Wage Week 2018 as accredited Living Wage employers along with 4,400 other UK employers who have joined the Living Wage Movement.
The Living Wage is a rate of pay based on the actual costs of living. As of Monday November 5, 2018 it was set by the Living Wage Foundation at £9.00 per hour for workers in Scotland, England and Wales and £10.55 for workers in London.
Unlike the Living Wage, the UK government’s national minimum wage is not calculated to reflect the actual cost of living. Many workers who earn less than the Living Wage report falling behind on household bills, skipping meals and having no savings or pension. The hardship caused by low pay means that 71% of low-paid parents report worrying so much that it affects their day-to-day lives.
There is a strong business case for paying the Living Wage. Better paid staff are more productive, take fewer days sick leave and are more focussed on their work. Paying the Living Wage can enhance a company’s reputation and increase staff motivation and retention. 93% of Living Wage employers say the Living Wage has benefited their business.
Franks & Co has made a commitment to always pay all staff at least the Living Wage and we would like to celebrate this commitment with our staff and the thousands of other Living Wage employers in the UK. We look forward to a growing community of like-minded businesses who are putting the welfare of their employees at the forefront of their business.
For more information about the Living Wage, please visit the Living Wage Foundation’s website at: https://www.livingwage.org.uk/
Article Published November 6, 2018