ESS Holdings is pleased to announce its accreditation as a Living Wage employer by The Living Wage Foundation for a second year.
Our Living Wage commitment sees all ESS employees, whether permanent or third-party contractors, receive a minimum hourly wage of £8.45 – significantly higher than the national minimum wage of £6.95 and the new minimum wage premium for over 25s of £7.20 per hour introduced in April of this year.
The Living Wage is an hourly rate set independently and updated annually. It is calculated according to the basic cost of living using the ‘Minimum Income Standard’ for the UK. Decisions about what to include in this standard are set by the public; it is a social consensus about what people need to make ends meet.
A survey by ECA International predicts that salaries in the UK will increase by an average of 2.9% by the end of 2017, resulting in the highest increase in wage growth since the 2008 financial crisis. However, despite these figures, rapidly escalating inflation will have a huge impact earnings in real terms. Food and petrol costs are currently pushing the rise, but increases in electricity and clothing are expected to drive the figures up further.
Acknowledging the potential socio-economic impact of these changes on our employees allows us to put measures in place that address holistic needs across our workforce. It is our belief that far from being a necessary drain resources, being a Living Wage employer is an effective measure in ensuring that our workforce is dedicated internally and safe externally.
ESS Holdings Director, Bruce Hydes commented: “Our ethos is to Inspire, Challenge and Innovate – and this starts with our people. We want to attract and retain the best talent and Living Wage accreditation helps us achieve this.
“For us, Employer Branding is not something that the marketing or HR departments consider in isolation, it’s an area that occupies time at board level. It is really important for us that our staff are paid fairly and proportionally, and that working with us provides security.”
Find out more about the Living Wage Foundation and campaign to stop low pay at www.livingwage.org.uk