We are officially a Living Wage employer!

We are excited to announce that we have officially been accredited as a Living Wage Employer as of this month.

The Living Wage ethos is that businesses and people across the UK deserve a fair day’s pay for all their hard work. By being accredited by the Living Wage, we can play our part in ensuring everyone can earn enough to live on.

What is the living wage?

The Living Wage is the only wage rate in the UK determined by the cost of living. More than 14,000 companies in the UK voluntarily pay it because they think their employees should be paid enough to cover basic expenses like your planned weekly food shop or even unforeseen circumstances like a bump on your car.

With the cooperation of both parties, almost 460,000 workers have seen wage increases due to the Living Wage campaign. In addition to hundreds of SMEs, they have a wide range of employers recognised by the Foundation, including half of the FTSE 100 and well-known brands, including Nationwide, Google, LUSH, Everton FC, and Chelsea FC.

Is this the same as the national living wage?

No. The government stated on November 21, 2023, that the new rates for the ‘National Living Wage’ for 2024 would be £11.44 per hour, with an adjustment made to account for individuals over 21. This won’t take effect until April 2024, and even then, it will still pay £1,092 less annually than what an employee would make on the genuine Living Wage and £3,334.5 less than an employee on the London Living Wage.

Inspired by the Living Salary campaign, the government raised the minimum salary for all employees over 25 in April 2016; they even dubbed it the “national living wage.”

How does this affect IDR?

Being accredited for this is part of our ongoing ESG strategy and commitment to enhancing our culture and workforce proposition. We always strive to develop the business and ensure a fair and enjoyable workplace for all employees. 

Receiving the real Living Wage instead of the government minimum wage is extremely important for workers. Employees have shared with us the positive effects it has on their relationships with their families, their mental health, and their productivity at work.

Thanks to the real living wage, thousands of families have been able to transition to an income that meets their basic necessities. Below, you’ll hear some first-hand accounts of the impact it can have.