Openwork, the Swindon based financial advice network which employs just over 400 people, has become an accredited Living Wage Foundation employer.
The Living Wage commitment will see everyone at Openwork, regardless of whether they are direct employees or third-party contracted staff, receive a minimum hourly wage of £8.45, or £9.75 in London. This is higher than the statutory minimum of £7.50 per hour for over 25s which was introduced by the government in April 2017.
Commenting, Mark Duckworth, Openwork CEO, said: “Openwork depends on its employees to deliver the continued success and growth that the business has seen over the last few years, and it is only right that they are properly rewarded for their hard work.
“In practice we have been a Living Wage employer for several years and accreditation from the Living Wage Foundation is recognition of the value we place on our team as we look to recruit and retain the best talent.”
The real Living Wage is an hourly rate calculated according to the real cost of living. It is set independently and updated annually. Employers pay the real Living Wage voluntarily.
Katherine Chapman, Director, Living Wage Foundation said: “We welcome Openwork to the Living Wage movement as an accredited employer.
“Responsible businesses across the UK are voluntarily signing up to pay the real Living Wage now. The real Living Wage rate is annually calculated to reflect the real costs of living.”
“We are a movement of over 3000 UK employers who together want to go further than the government minimum to make sure all their staff earn enough to live on. We have lots of small businesses as well as big household names like; IKEA, Aviva, Chelsea and Everton Football Clubs and many more.
“These businesses recognise that the Living Wage accreditation is the mark of a responsible employer and they, like Openwork join us, because they too believe that a hard day’s work deserves a fair day’s pay.”