WHY WE PARTNERED WITH THE LIVING WAGE FOUNDATION
The Better Business Network, and its sister company betternotstop, are proud to be accredited Living Wage Employers. This means that as employers we pay the independently-calculated Living Wage rates to all of our staff.
We believe that paying the real living wage means sustainability for all. This is why we support the Living Wage Foundation and encourage all of our Members to sign up to also become accredited Living Wage Employers.
The Living Wage Foundation recognises and celebrates the leadership shown by living wage employers across the UK.
They are the organisation at the heart of the independent movement of businesses and people that campaign for the idea that a hard day’s work deserves a fair day’s pay. The Living Wage Foundation celebrates and recognises the leadership of responsible employers who choose to go further and pay a real Living Wage based on the cost of living, not just the government minimum.
WHAT IS THE LIVING WAGE FOUNDATION?
The real Living Wage is the only UK wage rate that is voluntarily paid by over 10,000 UK businesses who believe their staff deserve a wage which meets everyday needs. For example; like the weekly shop, or a surprise trip to the dentist.
Over 300,000 employees have received a pay rise as a result of the Living Wage campaign and the campaign enjoys cross-party support. The Foundation has a broad range of employers accredited with the Foundation including over half of the FTSE 100 and big household names including Nationwide, Google, Brewdog, Everton FC and Chelsea FC.
In April 2016 the government introduced a higher minimum wage rate for all staff over 25 years of age inspired by the Living Wage campaign. This was called the ‘national living wage’.
However, this wage is not calculated according to what employees and their families need to live. Instead, it is based on a target to reach 66% of median earnings by 2024. Under current forecasts this means a rise to £10.50 per hour by 2024 and from 2021 was adjusted to include those over 23 years old. The government minimum takes into account what is affordable for businesses.
The real Living Wage rates are higher because they are independently-calculated based on what people need to get by. That’s why the Living Wage Foundation encourages all employers that can afford to do so to ensure their employees earn a wage that meets the costs of living, not just the government minimum.
WHAT ARE THE BUSINESS BENEFITS OF PAYING THE REAL LIVING WAGE?
The Living Wage is good for business and good for society. The Living Wage Foundation have published the results of a survey that demonstrates the business benefits of implementing the real Living Wage. You can read the full report here.
Below, however, are some of the highlights from an infographic provided by the Living Wage Foundation.
HOW TO JOIN
The accreditation is a signed licence between the Foundation and the employer. There are three simple steps required for businesses to undertake in order to become a Living Wage accredited employer:
Pay the real living wage to all your directly employed staff.
Have a plan to pay your contractors a living wage.
Complete the Living Wage Foundation application form (here).
If required, the Living Wage Foundation will send you a link to an online licence form and a guide to implementing the Living Wage. Simply contact them on this page. Once you have ensured your organisation satisfies the requirements please complete and submit the online form. Please note; this requires an online signature.
Once the Living Wage FOundation have received your licence and are sure that you understand the requirements of being a Living Wage employer, they will process your accreditation. This is usually done within ten working days, but occasionally the volume of accreditations means this may take slightly longer. Once processed, you will then receive a confirmation email welcoming you to the network, along with a copy of the Living Wage Foundation logo to use as well as other materials to celebrate your commitment.
There is a cost to businesses who wish to become accredited as a Living Wage Employer. This varies according to the size of your organisation; starting at £60 per year for those with fewer than 10 employees. For full details of the costs please contact us via the enquiry form.
Further information on all of the above can be found on the FAQ page of the Living Wage Foundation’s website.
THE BETTER BUSINESS NETWORK
The Better Business Network is the only purpose-led business community that is focused on helping businesses to grow while increasing their positive social and environmental impact.
One of the many ways in which we achieve this is by connecting purpose-led businesses with organisations such as The Living Wage Foundation, actively supporting both.
To learn more about the Network click here or email us directly; email@example.com.