We welcome the Taylor report and hope it will ignite the debate about what being a good employer means in the modern economy.
Katherine Chapman, Director of the Living Wage Foundation, said:
"Our 3,300 Living Wage employers have long known that the benefits of fair pay and good employment practices far outweigh the costs - when employers introduce the real Living Wage alongside more secure contracts, better training and improved conditions, the cost is offset by reductions in staff turnover and absenteeism. Unsurprisingly, staff feel the benefit of being in better paid and more stable employment and are therefore more committed and motivated, improving business performance. Respect, trust and responsibility work both ways and, when achieved, can go some way to tackling the UK's long-standing productivity problem. With living costs set to rise and uncertainty ahead, we would encourage employers to go even further and ensure that all employees, regardless of the type of employment they're in, are able to earn a real Living Wage that meets the cost of living. Fair working practices including the real Living Wage are good for people, society and business - and a critical component of what it means to be a good employer in the 21st century."
Our submission to the Taylor Review can be found in full below.