The real Living Wage is the only rate calculated using the costs of living. It provides a voluntary benchmark for employers that wish to ensure their staff earn a wage they can live on and not just the government minimum. Since 2011, the Living Wage movement has delivered a pay rise to nearly 400,000 people and put over £2 billion extra into the pockets of low-paid workers.
Being an accredited Living Wage employer can have several benefits, including:
- Attracting and retaining motivated and committed employees.
- Improving morale and increasing productivity as employees feel more valued and respected.
- Aligning with companies that have shared ethical values and corporate social responsibilities.
- Helping to reduce employee turnover as employees will be less likely to leave in search of better pay.
- Reducing poverty within the community, as employees have more disposable income to spend on goods and services.
The Institute of Workplace and Facilities Management (IWFM) is a professional membership organisation that represents and supports facilities management and workplace professionals in the UK. They provide training, resources, and networking opportunities to their members. As a member of Living Wage, they have produced guidance for facilities management professionals designed to provide employers with the tools required to break down barriers and allow more people to be paid a fair wage.