The IWFM has produced new guidance for members that it says “finds there is a powerful business case for paying the real Living Wage” despite the additional outlay involved.
The guidance is published in partnership with the Living Wage Foundation (IWFM is one of more than 6,000 Accredited Living Wage Employers) and outlines “the tangible benefits and practicalities of paying the real Living Wage”.
It highlights independent research that shows evidence of the crucial link between higher rates of pay and improved service delivery and performance. This is reinforced by case studies from organisations that already pay the real Living Wage and testimonies from individual workers who have benefited.
The institute said: “The coronavirus pandemic has thrown the public spotlight on the contributions of key workers, often in lower-paid roles such as cleaners and security guards, who have not just helped our profession keep people and buildings safe and healthy, but have maintained society and the economy in working order. Applauding key workers for their efforts does not pay their bills; it is only right that people are paid a fair wage for a day’s work.”
The guidance seeks to arm employers with “the rationale and tools to break down barriers and drive the long-term changes that will build back better, benefiting individuals, communities and their organisation’s bottom line”.
To read the guidance on paying the real Living Wage click here.