Independent business network Greater Birmingham Chambers of Commerce (GBCC) has been accredited as a living wage employer by the Living Wage Foundation.
As part of the accreditation, the organisation, which is part of the British Chambers of Commerce (BCC), has committed to pay both its direct employees and any third-party contracted staff at least the voluntary living wage rate of £8.75 an hour.
The living wage is an independently set hourly rate of pay that is calculated according to the basic costs of living. It is paid on a voluntary basis by employers and is updated annually. The living wage rate was raised on 5 November 2017 to be set at £8.75 an hour for employees working across the UK, and at £10.20 an hour for staff that are based in London. The higher London living wage rate is to reflect the increased living costs associated with residing in the capital.
The voluntary living wage is distinct from the statutory national minimum wage, which is paid to employees aged 25 and over. The national minimum wage rate is currently set at £7.50 an hour.
GBCC’s accreditation this week correlates with Living Wage Week, which is running between 5 and 11 November 2017.
Gemma Fiddler, head of HR at GBCC, said: “Inherent in our core values is the recognition given to the contribution of our employees in achieving our business objectives and continued growth [and] success.
“[While] in practice we have been a real living wage employer for some time, formal accreditation from the Living Wage Foundation acknowledges [and] recognises the value we place on our employees and the work that they do. It also extends our commitment to ensuring our third-party contract staff receive a fair rate of pay for a fair days’ work. Accreditation as a living wage employer will hopefully strengthen our position as a responsible employer and employer of choice, whereby we are able to recruit and retain the best talent.”