The Real Living Wage

The GBC requires all employers to pay directly-employed staff and regularly-contracted staff the real living wage as set out by the Living Wage Foundation; and for those organisations with more than fifty employees to commit to becoming an accredited Living Wage Employer, within a mutually agreed time frame.

3.5m

Jobs in the UK paying less than the Real Living Wage.

48.6%

Value of wealth owned by the richest 10% of the population.

5.8%

Value of wealth owned by the poorest 50% of the population.

£12.00/hr

2023/24 rate of the Real Living Wage outside of London.

(To be implemented by 1st May 2024)

£13.15/hr

2023/24 rate of the Real Living Wage within London.

(To be implemented by 1st May 2024)

Impact – Why The Real Living Wage Matters

People who are earning less than the real living wage struggle to afford the basics. The real living wage is independently calculated to ensure it covers what is needed to live in the UK and helps reduce wage inequality.

Uplifting people to real living wage may represent a short-term cost, but long-term gain in terms of increased retention and a reduction in recruitment costs.

Resources

Living Wage Foundation

Our Stance On – Fair Exception to the LWF

In exceptional circumstances the Good Business Charter may accredit an organisation without them being required to officially join the Living Wage Foundation as Living Wage Employers on the strict condition that they do meet the condition to pay all directly employed workers, franchise employees (when relevant) and regularly outsourced contractors the real living wage. Such a situation may arise where the LWF takes a stance on a particular situation that represents a higher threshold than the GBC considers necessary, for example treatment of interns where other benefits are afforded them alongside their wages.

If you have a fair exception to the LWF rules, or would like to discuss implementation of 2023/24 rates, please contact us to discuss this.