This week – Living Wage Week – Lodestone is celebrating its accreditation anniversary and our continued ethical commitment to paying the real London Living Wage for the real cost of living.
We value our people and we are proud to be part of the Living Wage movement as an accredited Living Wage Employer. This means that every member of staff in our organisation earns not just the minimum wage but the real Living Wage, including anyone enrolled in the Lodestone Internship Programme. The Living Wage is an hourly rate set independently and updated annually, based on the cost of living in the UK. As an ethical and responsible employer, we believe that every member of staff deserves a Living Wage, because a day’s work deserves a fair day’s pay.
The real Living Wage good for business, good for the individual and good for society. Many of our staff members have benefitted from the London Living Wage, opening up opportunities to enter the industry.
One of our Senior Account Executives, Philippa Alway, started as an intern just over two years ago and was last year shortlisted for PRCA’s best young public affairs professional of the year prize. She was able to pursue and develop her career through being paid a fair wage. Having grown up in Devon, Philippa needed a Living Wage to ensure that she could start her career in London. Now, she is running high profile events, campaigns and public affairs programmes.
In 2016 the government introduced a rise in the minimum wage for over 25s and called this new statutory minimum: The National Living Wage. But there is still a gap between the amount all employers have to pay by law and the real Living Wage that meets the cost of living. That’s why Lodestone – along with thousands of other UK employers – have voluntarily committed to going further – because it’s fair. The real Living Wage recognises that under 25s have the same living costs as everyone else. As a fast-growing London-based agency – we pay our employees the London rate, reflecting the higher living costs in the capital. The London and UK rates are independently calculated every year and announced during Living Wage Week – taking place this week.
The Living Wage is independently calculated each year based on living costs and accredited employers choose to go further by paying all their staff, including subcontracted staff, a real Living Wage. At the heart of the Living Wage movement is the simple idea that everyone deserves fair pay.
To find out more about the Living Wage Foundation, go to https://www.livingwage.org.uk/.