An increase in the voluntary living wage looks set to give thousands across Britain a pay rise. Thousands of firms have already signed up, with more expected to follow, reports Olivia Kemp
This week, the Living Wage Foundation announced that the hourly rate for the voluntary minimum wage would rise to £8.75 nationwide, and £10.20 in London. This represents a 3.6% and 4.6% rise respectively, and ensures that the wage continues to increase above inflation.
The Voluntary Living Wage is a non-compulsory figure produced by the Living Wage Foundation which serves to indicate the approximate figure at which an employee might hope to comfortable sustain themselves in full-time employment. Approximately 3,600 employers have signed up to the scheme, but two-thirds of FTSE 100 companies have declined to do so.
We spoke to Siobhan’s Dance studio to find out why they signed up to the foundation. The Communications co-ordinator Owen Kimm said: “we’ve been signed up to the London living wage for a while now, it’s important to us and it really fits our morals. We love to be able to allow people to work well and also live well.”
Power To Change, a charity also signed up to the Living wage work with different communities and believes strongly in giving back to them and their staff. Communications co-ordinator Claire Duncan said: “the living wage enables people to take up more opportunities”.