With the National Minimum Wage increasing today, 1 October (Click Here to find out more about NMW changes), leading businesses across the UK are already showing their support for the introduction of the National Living Wage, scheduled to roll out in April 2016.
Announced in the Summer Budget and due to be implemented in April 2016, the National Living Wage will ensure that all workers over the age of 25 will receive a minimum of £7.20 per hour from their employer.
Supermarket chain Lidl, will be adopting a National Living Wage of £8.20 per hour (£9.35 for workers in central London) for all employees within the UK, higher than the Governments figures. Lidl have decided to increase the rate in line with the ‘Living Wage Foundations’ recommendation.
Coffee chain Starbucks have announced this week that they will be increasing the basic pay of all employees to £7.20 including apprentices, with an undisclosed ‘London Premium’ that will be paid for employee’s working in the capital. The coffee firm will also introduce a ‘Home Sweet Loan’ scheme to their employees, providing an interest free loan to assist employees with their deposits for homes.
One of the leading internet based retailers Amazon, have announced this month, that they will be increasing all workers pay to the National Living Wage, 6 months in advance of the Governments introduction, including under 25’s. Along with this, permanent staff will see the benefit of at least an 11% pay rise across the first two years of service and will receive benefit’s including private health care, company pension, life assurance, subsidised meals and employee discount and share grants.