Pay real Living Wage


Leading UK companies are facing renewed calls from a group of large institutional investors over low wages.


In an effort coordinated by ShareAction, 15 investors with assets totalling over £180 billion are writing to FTSE companies to encourage them to accredit with the Living Wage Foundation.


Accreditation as a Living Wage employer means paying all staff at least £10.55 an hour in London and £9 an hour outside London. These rates are independently calculated as being sufficient to meet the real cost of living. These rates are much higher than the statutory National Living Wage.


In letters to companies’ CEOs, investors state that paying a Living Wage makes strong business sense for the long-term success of a company. Paying a real Living Wage has been proven to bring a range of benefits — including reduced staff turnover, higher retention rates and improved employee relations.


Sixty-three companies within the FTSE 100 have yet to ensure staff — including directly employed staff and contracted staff who are central to company operations — are paid the real Living Wage.


https://shareaction.org/press-release/investors-sharpen-their-focus-on-the-real-living-wage-in-the-uk