Why pay the real Living Wage?
The Living Wage is good for business, good for employees and good for the local economy
By paying the real Living Wage, employers are voluntarily taking a stand to ensure their employees can earn a wage which is enough to live on.
As well as it being the right thing to do, there is a growing body of evidence demonstrating the business benefits of becoming a Living Wage employer.
Lifting 1/4 of low income workers to the real living wage could create a £1.1bn boost to major uk cities
In 2018, analysis by The Smith Institute found that if just a quarter of those on low incomes saw their pay rise to the real Living Wage in ten of the UK’s major city regions, a subsequent increase in wages, productivity and spending could deliver a £1.1 billion economic boost to major UK cities. This highlights the potential cumulative impact of local authorities paying the real Living Wage. When workers earn enough to live, they have more income to spend in the local economy.
Why become an accredited organisation?
Accredited employers display the Living Wage Employer Mark to evidence their commitment to paying the Living Wage to directly employed workers and third party sub-contractors.
This includes a plaque, merchandise and digital assets to demonstrate their commitment to their staff and networks. The employer will also be listed on the Living Wage Foundation website.
A report from Cardiff Business School highlights the positive impact of Living Wage on organisations. The survey of more than 800 accredited real Living Wage businesses, ranging from SME’s to FTSE 100 companies, found that:
93% OF LIVING WAGE BUSINESSES HAVE BENEFITTED SINCE ACCREDITING
Say it has improved the reputation of the business
Say it has increased motivation and retention rates for employees
Say it has helped differentiate themselves from others in their industry
Say it improves relations between management and staff
- The survey of more than 800 accredited real Living Wage businesses, ranging from SMEs to FTSE 100 companies, found that 93% reported they had gained as a business after becoming a real Living Wage employer.
- The research found that 86% of respondents reported that Living Wage accreditation had enhanced their organisation’s general reputation as an employer. Over half of employers reported that the Living Wage had improved both recruitment and retention; whilst 76% of large organisations (those employing over 500 people) that responded, reported improved retention of employees receiving the Living Wage.
- 78% of large employers also reported that following accreditation staff motivation was increased.
benefits to workers in Wales
Do you know the difference it makes?
"Not having to worry about affording the basics"
"Saving a little for an emergency or a rainy day"
"Spending more quality time with our children"
1 in 5 workers in Wales are paid less than the real Living Wage (TUC, 2019)
Earning the Living Wage can mean so much more than a pay rise. It can mean being able to put money away for a rainy day, being able to spend more quality time with family and it can mean peace of mind from not having to worry about affording the basics.