Posted on November 29, 2017 by Louisa Feary
On Wednesday 15th two members of the motive8 team headed up to the Living Wage Event hosted by Heart of the City (HotC) to discuss the growing need for businesses to embrace the real living wage for employees. This was to see how becoming a living wage company would benefit the business, especially the gym and spa department who has a number of on-site employees living and working in London.
The seminar covered what the Real Living Wage is for Londoners compared to the Minimum Wage and National Living Wage for the rest of the country and why the Living Wage Foundation was set up to help those struggling to make ends meet. The Living Wage Company helps businesses to see the benefits not only to their employees but to the business as a whole. These include improved reputations, increased motivation and retention rates of employees as well as the ability to differentiate themselves from others in the industry.
Part of the talk was given by KPMG, the first business to become a Living Wage accredited employer, to give their first-hand account on the benefits including ‘driving up social mobility, being able to recruit from the widest talent pool, a measurable increase in productivity and motivation, better retention of staff and a reduction in abseentism.’
Thoughts on the seminar:
“Attending the Living Wage Foundation’s session at the Heart of the City event was a real eye opener. I hadn’t realised how many people were struggling financially trying to hold down 2 or 3 jobs so that they can provide for their family, which has a major impact to their quality of family life. Companies who are accredited to this scheme can have a hugely positive impact to family life by reducing the hours they need to work to make ends meet and save for Christmas or birthday presents without having to get into debt.
“We heard from KPMG & the OPM Group, who are already accredited, who noted more loyalty and productivity from their staff who also felt more valued within the organisation. As a company in the fitness industry, we understand that it is renowned for low wages and long or unsocial hours. I believe we can all do our part to meet the London/National Living Wage or at least plan and budget to reach it over the course of a few years. The increase in productivity could go some way to balance the reduction in profit margins but the improvement to your staff’s wellbeing is crucial for the long-term sustainable growth of your business.”
“Becoming a living wage employer is a hot topic for motive8. The Living Wage seminar was a fantastic opportunity for us to meet with large corporate businesses who have been set up with the scheme for many years and who can demonstrate the positive impact it has had on both the employees and the company as a whole. We also met smaller companies who are new to the scheme, that are noticing the effects it has had on staff retention, increased productivity at work and reduced staff turnover.
“Many of those who attended the debate were small businesses, like ours, who are desperate to make the change but either unsure of the pathway needed to take in order to join the scheme or unable to make the change due to restrictions from higher management. The event provided me with a greater understanding of what Living Wage means for both employee and employer and has given me tools needed to help present this to our clients.”
motive8 is meeting with the Living Wage Foundation to discuss becoming the first leisure company to be Living Wage accredited.