75% of employers report increases in work quality because of the living wage. Other benefits for employers are:
-Increased employee engagement
-Lower staff turnover
-Reduced training and development costs
-Increasing brand recognition for Living Wage mark
The Living Wage is now £8.80 in the capital - and £7.65 in the rest of the UK. The minimum wage is £6.31.
The Living Wage Foundation says the difference between the Minimum Wage and the Living Wage can really change lives.
Video from livingwage.org.uk
- An hourly rate set independently and updated annually
- Calculated according to the basic cost of living in the UK
- Employers choose to pay the Living Wage on a voluntary basis
Mayor Boris Johnson told our Political Correspondent, Simon Harris, why the Living Wage isn't currently statutory.
New London Living Wage is £8.80. National Minimum Wage is £6.31. @itvlondon
Living Wage increases by 25p! @itvlondon
Mayor Boris Johnson has described the London Living Wage as 'pure economic common sense' at Great Ormond Street Hospital this morning.
Mayor of London Boris Johnson will announce how many people in the capital are receiving The London Living Wage later today.
Hundreds of employers have signed up to the charter which sees businesses pay a wage based on the basic cost of living in the capital rather than minimum wage which is more than £2 an hour less.