While there are many business benefits to paying people at least enough to live on, employers are recognising that going beyond the real Living Wage can make a substantial difference to the lives of workers and their families.
Of course, business owners must make a profit but to many a healthy culture is just as important as a healthy balance sheet. We have seen more employers turning their business mission on its head to put people before profits, particularly in the post-pandemic landscape.
Recently we have seen strong uptake of our Living Hours scheme. This can be difficult in certain sectors such as hospitality, retail and manufacturing to name but a few. However, employers such as Molke and The Edinburgh Bookshop have made a commitment to their people which will allow them a better work-life balance and greater financial stability.
Giving people the ability to set goals and make long-term commitments is important in giving them purpose. Planning for a secure future is impossible if you do not have a stable income, and workers who do have that security are not always in a position to put something by for a rainy day. A Living Pension helps workers build up a pension pot that will provide them with an income that meets their basic needs in retirement.
From discussions with employers, we have found that many have introduced new working practices. Muckle Media offer a 4-day working week alongside an 8-week holiday allowance so that their people can enjoy more free time doing the things they love. Longer hours no longer means more productivity. In fact, studies have shown that shorter hours can lead to an overall improvement in wellbeing, which can only be a good thing.
Pilton Youth & Children’s Project are helping mitigate the effects of rising bills by offering use of washing machines and kitchen facilities, other employers offer subsidised and free meals, and cost of living payments. These are all great ways to support people who might be struggling to keep up. However, sometimes it can be something as simple as a birthday present or an acknowledgement of work well done that can lift spirits and make employees feel that an employer really cares.
Personal development and ongoing training are important to keep staff engaged and help them feel confident in their role. It also encourages them to try new things, learn new skills and put forward ideas that could help the business. The culture at Streamline Corporate inspires loyalty and creativity from team members, with one staff member stating that they have never worked within a company where they have felt so connected and supported.
Access to mental health support, gym membership, paid time off for moving house, helping in the community or birthdays are all benefits that we see employers offering to support both physical and mental health within their organisations. One of simplest and most powerful ways to foster a healthier and compassionate environment is by communicating with people. Talk to colleagues, value their opinions, ask for their ideas and offer comfort when they are struggling.
We believe everyone should earn enough to live on but we would also like to acknowledge and thank all the employers who are going beyond the real Living Wage.
Read more examples of going further from employers such as Hyper Luminal