= LIVING WAGES CAMPAIGN
ShareAction's JustPay! campaign aims to permanently embed Living Wage standards in the UK's private sector, beginning with the biggest companies on the London Stock Exchange, namely the FTSE 100. Launched in 2011, the JustPay! campaign has achieved some big successes and ShareAction continues to raise the issue of the Living Wage with the UK's biggest companies.
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Together we hold billions of pounds through our bank accounts, ISAs, pensions, and even insurance policies. This gives us the power to positively influence some of the biggest companies in the world. We believe that activating the power of our organised money can literally change lives, helping to lift families out of working poverty. ShareAction has been mobilising the power of organised money in order to raise the issue of the Living Wage at AGMs around the country. Find out how you can add your voice to the call for Living Wages today.
About the Campaign |
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The campaign aims to secure the support of major investors including pension funds and City fund managers as lead activist investors, as well as to mobilise the public. ShareAction's campaign builds on ten years of work by Citizens UK, with whom we are working closely along with other partners, but brings to bear the leverage of investors. On May 3rd 2012 a letter signed by a coalition of investors with assets under management in excess of £13 Bn was sent to the CEOs of FTSE 100 companies calling for the application of Living Wage standards across all UK operations. But this campaign is not just about big institutional investors. It's also involved action by individual shareholders at a host of FTSE 100 AGMs over the course of 2011 and 2012. Together with our campaign partners and many of our supporters, ShareAction was present at the AGMs of some of Britain's biggest companies, speaking directly to board members about Living Wages. And we will continue to press the issue of Living Wages at AGMs throughout 2013. You can read the story of one of our supporters attending AGMs here.
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Excluding young workers, amongst whom low pay is even more prevalent, 3.5 million working adults aged over 22 were earning less than £7 in 2010. |
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What is the Living Wage? |
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A Living Wage is the minimum hourly wage necessary for housing, food and other basic needs for an individual and their family. Living Wage employers ensure all their own staff and those of their on-site contractors are paid at least the Living Wage across all UK operations. Living Wage rates are based on Minimum Income Standards methodology and take account of real living costs for essential goods and services. Within London, the Mayor's Office announces the Living Wage figure each year - currently £8.55 per hour. Outside London, the Centre for Research in Social Policy at Loughborough University has calculated a single rate for the regions which is £7.45 per hour. These Living Wages rates can be contrasted to the National Minimum Wage, which is just £6.19 an hour.
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"Before, I had to work two jobs to put food on the table and pay the rent. I had no time for my family or my community. When the Living Wage was introduced I was able to prioritise the one job and that means I've been able to be there for my family and set up a youth group in my community. What I've been given, I'm now able to give back."- Amin Hussein, Cleaner and Youth Worker |
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Why pay Living Wages? |
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In-work poverty is a growing problem in the UK and low pay is closely associated with social disadvantages including poor health, substandard housing and personal debt. Excluding young workers, amongst whom low pay is even more prevalent, 3.5 million working adults aged over 22 were earning less than £7 in 2010. Living Wage employers report a range of benefits including:
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"We've found that paying the Living Wage is a smart business move as increasing wages has reduced staff turnover and absenteeism, whilst productivity and professionalism have subsequently increased."- Guy Stallard - Director of Facilities, KPMG Europe |
