The Living Wage
From 1 April 2016 the National Living Wage (NLW) will become law, meaning that from this date all workers aged 25 or over (and not in the first year of an apprenticeship) will be legally entitled to a minimum of £7.20 per hour. This represents an increase of approximately 7.5% for all of your staff aged 25 or over and currently paid the National Minimum Wage (NMW) of £6.70 per hour. The current Government is committed to increasing the NLW year on year so that it reaches £9.00 per hour by 2020. This will have huge implications for organisations throughout the UK and will need to be factored in for many issues including pricing, profitability and recruitment. Further detail of both the NLW and NMW has been published by the Government and can be found here.