Living Wage Foundation are celebrating their biggest Living Wage Week to date, and rightly so given it’s their 20th anniversary!
This will be our third year running as one of their accredited employers which brings us immense pride. 9000 accredited employers operate nationally providing a huge 300,000 employees an improved hourly rate.
This years LW Week coincides with the new rate announcements, £9.90 across the UK (40p increase) and £11.05 in London (20p increase), supporting workers and families. This is the only rate in the country constructed upon the real cost of living.
We believe in providing employees with a package that meets or exceeds the legal minimum standards. In line with industry standards within the markets we operate. We are committed to giving our employees at least £9.90 an hour, ensuring that they can meet their everyday needs. This aligns with the foundations mission statement which they have been delivering on consistently for thousands of families in the UK.
Accredited employers pay the real Living Wage. The cost of living in the UK is what determines this rate of pay. EFG pay the real Living Wage which is higher than the government minimum. We also make sure all our employees in London receive the London rate of pay which compensates for London’s cost of living.
The Living Wage Foundation is a campaigning organisation that promotes the Living wage initiative. The movement has grown exponentially. During the pandemic with thousands of employers now choosing to pay £9.90 an hour over the minimum wage. This has meant a pay rise for 150,000 employees and their families. The rate is substantially higher than the national minimum wage. It even includes a separate rate for Londoners. The foundation has changed thousands of lives allowing families to have enough to put food on the table. It has also allowed people to enjoy their free time in a more stress free way, making work far more rewarding.
Living Wage Week is a celebration of the foundation and its progress. This celebration involves various events up and down the country. Communities come together to celebrate and raise awareness for the foundation. Employers are celebrating and bringing further awareness to the foundation. The occasion is even more special this year as it celebrates 20 years of the movement and highlights the progress the foundation has made across the country since its start in 2001.
Research has shown that employees being paid at least £9.90 an hour have:
80% of employers have seen an increase in the quality of their staffs work. With two thirds of employers also seeing an improvement in staff recruitment and retention.
These statistics highlight how mutually beneficial we feel the initiative is between company and employee which is why we have chosen to follow the initiative over the last few years. We believe that the Living Wage Foundation is an excellent progressive tool that allows for an improved and much happier work force.
The Foundation has many huge partners such as IKEA and AVIVA, with AVIVA even stating it’s part of their aim of being an employer of choice. We are proud to have joined the fold and have been a proud Living Wage employer since 2018.
Being part of the Initiative aligns with two of our core values:
Here at EFG we believe that the minimum wage is not a fair reflection of the cost of living in the UK and that workers earning minimum wage aren’t receiving a fair deal. We feel a commitment to make our employees feel valued for the time and effort they put into making EFG what it is.
We can confirm that we have now been an accredited employer since 28 March 2018. This means that EFG UK meets the standards set by Citizens UK and the Living Wage Foundation.
You can browse the full list of accredited employers, including EFG here :
The benefits of becoming an accredited employer are countless, we would like to encourage all of our business partners, customers and suppliers to build towards this worthwhile accreditation.
We work with some fantastic accredited employers already such as:
As an accredited Employer, EFG UK has committed to: