Barclays Supports UK Living Wage Week

Barclays Supports UK Living Wage Week

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Tuesday, November 10, 2015 - 10:30am

CAMPAIGN: Access to employment

CONTENT: Article

Barclays is supporting Living Wage Week to highlight the potential of the living wage to change lives, boost business and support economic growth. Having backed the initiative for over ten years, we are one of 2,000 UK businesses accredited as a living wage employer. Living wage employers can benefit from improved staff morale, retention and productivity – resulting in long-term business benefits.

What is the living wage?

£8.25per hour in the UK (excluding London)

£9.40per hour in London

We have publicly committed to ensure that all permanent and subcontracted staff, regardless of their role or location, are paid at least the living wage. From this week, the living wage is set at £8.25 per hour; significantly higher than the national minimum wage of £6.70 per hour. In London, where there is a distinct rate, the living wage is set at £9.40 per hour.

Dominic Johnson, Employee Relations Director, Barclays, said: “Not only is paying people who work on our behalf a wage that supports a decent standard of living a responsible thing to do, there are also clear business, societal and economic benefits to doing so. We hope that the living wage continues to gain increased support from the business community.”

The living wage is calculated to reflect the minimum amount a person needs to earn in order to cover their basic living costs – such as housing, bills, food and work travel. Research from KPMG suggests nearly six million UK workers are paid less than the living wage.

To contribute to the growing business case for the UK living wage, Barclays commissioned the University of Strathclyde, in partnership with the Living Wage Foundation, to further investigate the value it can offer to employers.

Read the full Living Wage reportRead the full living wage report Find out more about the Living Wage FoundationLiving Wage Foundation (new window)