By paying the real Living Wage, employers are voluntarily taking a stand to ensure their employees can earn a wage which is enough to live on.
As well as it being the right thing to do, there is a growing body of evidence demonstrating the business benefits of becoming a Living Wage employer.
The Living Wage rates are independently calculated based on the real cost of living in the UK and London.
The new rates for 2023/24 are:
- £12 per hour UK rate; and
- £13.15 London rate. See: [Real Living Wage increases to £12 in UK and £13.15 in London | Living Wage Foundation](https://www.livingwage.org.uk/news/real-living-wage-increases-%C2%A312-uk-and-%C2%A31315-london)
From October 2024, company size thresholds are to increase by 50%. For each company, these new thresholds will begin to apply from the start of the next accounting period commencing on or after 1 October 2024. But what are the implications of these changes to your company?
The Health and Safety Executive (HSE) has published an article outlining its approach to regulating artificial intelligence (AI) in workplaces.