We are excited to announce that Albany HR has been accredited as a Living Wage Employer. This recognition reflects our commitment to paying a fair wage and providing excellent working conditions for all our employees.
Why is the Living Wage Important?
By becoming a Living Wage Employer, we’re ensuring that our employees receive a fair wage that meets their basic needs. This not only benefits our entire workforce but also contributes to a stronger local economy.
In Scotland, organisations receiving public sector grants or working with the Scottish government must adhere to the Fair Work First Principles. Achieving Living Wage accreditation is a key step towards fulfilling these requirements and demonstrating a commitment to fair work practices.
The Benefits of Being a Living Wage Employer
- Improved Employee Morale and Satisfaction: A fair wage can significantly boost employee morale and job satisfaction.
- Increased Productivity: Happy and motivated employees are more likely to be productive and efficient.
- Reduced Turnover: A living wage can help reduce staff turnover, saving your business time and money on recruitment and training.
- Enhanced Reputation: Becoming a Living Wage Employer can enhance your company’s reputation as a responsible and ethical employer.
- We encourage other businesses to consider becoming Living Wage Employers. It’s a simple step that can make a big difference.
You can find out more about the Living Wage Foundation here.
Kathleen McAdams, Managing Director of Albany HR said “We believe that a well-compensated workforce is more likely to be happier, more engaged, and more productive. By paying a Living Wage, it means employees to reach their full potential and contribute meaningfully to any organisation. By becoming a Living Wage Employer, you’re investing in your workforce ensuring your teams become more engaged, motivated, and productive. It’s a win-win for both employees and employers.”
The Impact of Low Wages
Research from the Living Wage Foundation has highlighted the significant impact of low wages on individuals and families. A staggering 42% of workers earning below the real Living Wage, approximately 2.2 million people, struggle to make ends meet, with less than £10 remaining after essential expenses. Moreover, a recent survey of those earning less than the real Living Wage revealed that a majority of workers (52%) believe a pay increase is the most crucial factor in improving their overall well-being. This increase in pay would positively impact mental health, reduce anxiety, improve sleep quality, and enhance physical health for many.
Looking for more support?
If you’re considering reviewing your pay and benefits package, or want to gain insights into your employee engagement, Albany HR can help. We can support you with:
- Employee Engagement Surveys – to understand your employees’ needs and motivations as engaged employees are more committed to company goals, enhancing overall performance and profitability.
- Salary and Benefit Benchmarking – to ensure you’re offering fair and competitive packages that attracts and retains your top talent.
- HR Audits – help ensure compliance with employment laws, identify areas for improvement, and improves overall organisational performance
Contact us today for help on 0131 364 4186, letstalk@albanyhr.com.
