We are happy to say that King’s has officially become an accredited Living Wage Employer. Our commitment to paying our staff members the London Living Wage is an integral part of Vision 2029’s Service Pillar, demonstrating our commitment to society and our staff.
While King’s has been paying the London Living Wage since 2014, we have only just been made an accredited Living Wage Employer.
What is the Living Wage?
The Living Wage is the only UK wage rate that is based on living costs. While the government introduced its own ‘national living wage’ rate for staff over 25 years of age in April 2016, this was not actually calculated against what employees and their families need to live.
The real Living Wage is paid by over 4,400 UK business who believe in ensuring that their employees receive fair pay and can afford to live on that pay. For London there is a separate rate taking into account higher living costs in the capital.
What does it mean to be an accredited Living Wage Employer?
Being an accredited Living Wage Employer means that King’s is committed to paying the real Living Wage to all our directly employed staff. In addition, King’s ensures that are on-site contractors, such as cleaners, are paid the London Living Wage. King’s is also committed to annual pay increases linked to the cost of living.
What does it mean for staff members?
Not only does it ensure that staff members earn enough to live on, accreditation has many other benefits:
- 75% of current accredited employers say it has increased motivation and retention rates for employees
- 58% say that is improved relations between managers and their staff
- 86% say that is has improved the reputation of the business
We’re happy to say that King’s is committed to ensure that it’s staff members receive a fair, liveable wage.