Living wage campaign
FTSE 100 companies urged to support living wage campaign
The Joseph Rowntree Charitable Trust (JRCT) are among signatories of a joint letter urging FTSE 100 companies to support the campaign for a living wage. The FairPensions organization has just launched ‘JustPay!’ – a campaign designed to increase awareness of the Living Wage and to campaign for a wider implementation of it in UK companies.
The Ecumenical Council on Corporate Responsibility and members and partners, including JRCT, have co-signed a joint letter supporting the living wage, which has been sent to all FTSE 100 companies.
Other signatories include the central finance board of the Methodist Church, The United Reformed Church and the CCLA, a specialist investment management for charities, faith organisations and local authorities.
The letter is written on behalf of ‘a group of UK and international investors as well as civil society organizations’, and urges the company concerned to join others by ‘committing to adopt Living Wage standards in your UK operations.’
The letter states: ‘a Living Wage is the minimum hourly wage necessary for housing, food and other basic needs for an individual and their family. Living Wage rates are based on Minimum Income Standards methodology and take account of real living costs for essential goods and services in a given year.
Within London, the Mayor’s Office announces the Living Wage figure each year – currently £7.85 per hour. Outside London, the Centre for Research in Social Policy at Loughborough University has calculated a single rate for the regions, which is £7.20 per hour. Accredited Living Wage employers ensure all their own staff and those of their on-site contractors are paid at least the Living Wage.’
Research and business leader testimony has shown that paying a Living Wage is in the best interests of companies. Benefits include stronger staff retention, significant falls in absenteeism, and improved workforce morale.
Guy Stallard, director of facilities at KPMG Europe, has stressed the business benefits saying, ‘We’ve found that paying the Living Wage is a smart business move as increasing wages has reduced turnover and absenteeism, while productivity and professionalism have subsequently increased.’
Being recognised as an accredited Living Wage employer is rapidly becoming an established mark of commitment to corporate social responsibility.
Comments
Please login to add a comment
