Every time I have picked up a trade magazine since the budget a few weeks’ ago, I have had to read articles written by business leaders moaning about the new government’s plans to introduce the “Living Wage” rather than the current “Minimum Wage” by 2020. Let me put my cards on the table and say that we have always paid above the living wage even before it was on trend to do so, so we will be registering with the Living Wage Foundation to make this public. But I have always looked around at the wages for a particular job within the area and ensured that we were paying around the average rate and more for those particularly talented individuals that we wanted to reward more.
I simply don’t understand why employers would want to do anything other than this for various reasons:
- Surely paying people a living wage for the job they do makes for happier employees. Happier employees generally do better work, therefore earning you more profit. (more…)