Loughborough Building Society celebrates commitment to Real Living Wage

 

The Loughborough is delighted to announce that it has been accredited as a Living Wage Employer.

Our Living Wage commitment will see everyone working at the Society receive a minimum hourly wage of £12 in the UK, higher than the government minimum for over 21s, which currently stands at £11.44 per hour.

The Loughborough is based in the East Midlands, a region where over 15.7% of workers earn less than they need to get by, with over 299,000 jobs paying less than the real Living Wage. Despite this, the Society has committed to pay the real Living Wage and deliver a fair day’s pay for a hard day’s work.

The real Living Wage is the only rate calculated according to the costs of living. It provides a voluntary benchmark for employers that wish to ensure their staff earn a wage they can live on, not just the government minimum. Since 2011 the Living Wage movement has delivered a pay rise to over 460,000 people and put £3 billion extra into the pockets of low paid workers.

Tina Patel, HR Manager, The Loughborough Building Society said; “We’re committed to valuing our employees and ensuring their contributions are fairly rewarded. Becoming a Living Wage accredited employer reflects our dedication to offering a wage that supports the real cost of living, helping our people thrive both personally and professionally. This decision aligns with our goal of being an ‘employer of choice’ and reinforces our commitment to the wellbeing and financial security of our people.”

Katherine Chapman, Director, Living Wage Foundation said: “We’re delighted that Loughborough Building Society has joined the movement of over 14,000 responsible employers across the UK who voluntarily commit to go further than the government minimum to make sure all their staff earn enough to live on.

“They join thousands of small businesses, as well as household names such as Burberry, Barclays, Everton Football Club and many more. These businesses recognise that paying the real Living Wage is the mark of a responsible employer and they, like The Loughborough, believe that a hard day’s work deserves a fair day’s pay.”