Becoming a London Living Wage Employer
What is the real London Living Wage?
The real Living Wage is the only UK wage rate based on the cost of living. It is voluntarily paid by over 14,000 UK businesses who believe their staff deserve a wage which meets every day needs - like the weekly shop, or a surprise trip to the dentist.
Over 400,000 employees have received a pay rise as a result of the Living Wage campaign. There are a broad range of employers accredited with the Living Wage Foundation including half of the FTSE 100 and big household names including Nationwide, Google, LUSH, Everton FC and Chelsea FC, as well as thousands of SMEs.
The Living Wage rates for 2023-24 were announced on the 24th October 2023 and is currently £13.15 in London and £12.00 across the UK. Employers will have 6 months to implement the new rates.
Living Wage in Newham
Since becoming accredited as a London Living Wage Employer in March 2021, Newham has been leading the way to encourage other local businesses to pay the real Living Wage and make the Royal Docks a bastion of community wealth building and inclusive growth. Together with the Royal Docks Action Group, which was set up in June 2021, there are now 87 Living Wage Employers in the borough of which 31 are based in the Royal Docks.
Working on increasing awareness and uptake of the Living Wage and accreditation as a Living Wage Employer remains on top of Newham’s community wealth-building agenda. With thousands of job opportunities in digital skills and construction coming to the Royal Docks over the coming years, we will continue to work with the Royal Docks Action Group, local businesses and organisations to ensure these fantastic new job opportunities are paid at least the real Living Wage. They will provide new opportunities for local residents to improve their skills and access high-quality well-paid local employment.
Benefits of paying the Living Wage and how to become a Living Wage Employer?
Becoming a Living Wage Employer is very straightforward, the accreditation process requires a Licence Agreement to be signed between the employer and the Living Wage Foundation.
Paying a real Living Wage has many benefits to employers including improving the employer brand, boosting staff productivity and motivation at work. Paying a real Living Wage helps employers to remain competitive, retain existing staff and attract new staff. Over half of employers said paying a real Living Wage has improved the quality of applications for jobs. Over a third of employers also reported that the Living Wage helped the organisation secure contracts and funding.
Living Wage News