The number of employers from the United Kingdom who voluntarily pay the highest dignified salary has increased by 19% during the past year, despite the signs of a cooling labor market and the pressure of the incess legal salary.
The figures of the Living Wage Foundation show that 16,040 employers are now accredited by paying the voluntary salary, a higher established rate than the legal minimum of the government. That is greater than approximately 13,400 a year ago, with private sector companies, public bodies and beneficial organizations that commit themselves to higher wages for their paid staff.
The voluntary rates are currently £ 12.60 per hour throughout the United Kingdom and £ 13.85 in London, significant above the legal minimum wage of £ 12.21 introduced in April for workers aged 21 years or around. In capital, this means that worthy salary employers pay 13% more than the legal minimum and 3.2% more in the rest of the United Kingdom.
Salary rates are established annually by the Resolution Foundation and supervise by the Living Wage Foundation, based on the real cost of life instead of government policy.
Among the companies that pay the main decent salary brands such as Ikea, Fred Perry and Aviva. A study by the Cardiff Business School for the living salary foundation found that employers who adopt the offender scheme reported “modest but positive” benefits, including improvements in reputation, personnel retention and people management.
Katherine Chapman, director of the Living Wage Foundation, said the figures were encouraging: “Despite uncertain economic times, the decent salary movement continues to grow in a variety of sectors. It shows what is possible to make Tebesty Tebewety Ten.”
Of the 2,830 organizations that registered in the year until May, 1,751 were from the private sector, indicating appetite sustained by fair wages despite economic pressures.
The increase occurs at a time when the broader indicators of the labor market show signs of softening. According to the Office of National Statistics (ONS), salary growth slowed 5.6% in three months until March, below 5.9% in the previous quarter. Meanwhile, Inemployent increased to 4.5%, and the number of payroll employees fell by 106,000 during the past year to 30.3 million. Employment vacancies fell by 42,000 to 761000 wells below its Pandemic-Ise or 1.3 million peak in early 2022.
The legal minimum wage saw an increase of 6.7% in April, part of a series of previous inflation increases, which caused the group among some companies about affordability. However, the continuous growth of voluntary adoption of decent salary suggests that many employers remain committed to offering more than the legal minimum.
With the fall in inflation and the attention to the growth of the income of the real sections and the quality of the workplace, the voluntary salary looks more and more as a tool for employers to differentiate themselves waiting and retention challenges.
Jamie Young
Jamie is a senior reporter of Business Matters, who brings more than a decade of experience in commercial reports of the United Kingdom. Jamie has a business administration title and participates regularly in conferences and industry workshops. When he does not inform about the last business development, Jamie is passionate about the mentoring of promising journalists and businessmen to inspire the next generation of business leaders.
