The Living Wage is paid by employers on a voluntary basis. It is an hourly rate which is set independently and updated yearly. It is calculated according to the basic cost of living in the UK.
The aim of the Living Wage is that no one should have to work for less than they can live on.
The Living Wage Foundation’s accreditation intends to recognise the dignity of work and the importance for individuals to earn a wage which provides an acceptable standard of living.
It can have a positive impact on productivity and staff turnover so not only makes good business sense but offers wider economic and social benefits too.