A new report by the Social Mobility Commission that reveals low pay is endemic in the UK and little progress has been made, in the numbers of people managing to escape from poorly paid jobs. From Andy Bagnall, Director at KPMG UK.
It’s shocking that whilst unemployment figures are at the lowest since 1975, Britain has one of the highest proportions of low paid work in the developed world. The findings of this report reiterate the importance of paying the real Living Wage, which helps eradicate working poverty and in turn improve social mobility.
With the cost of living higher than it’s ever been, the reality for many is that they are forced to live hand to mouth. As employers we can take active steps to address this, by paying the real Living Wage. This also delivers tangible business benefits. In our own firm it has improved staff morale and driven a rise in service standards, improved the retention of staff and increased our productivity.
It may not be possible or practical for everyone, but all organisations need to do what they can to address the problem of low pay. Of course, change cannot happen instantly, but making an initial assessment is an important first step.
