Having supported the Living Wage since 2004, Barclays is the only high-street bank to be formally recognised as a Living Wage employer and one of 400 businesses in the UK to be accredited.
The accreditation is Barclays’ public commitment to ensure that all permanent and subcontracted staff, regardless of their role or location, are paid at least the relevant Living Wage. It’s a commitment we have made in partnership with our recognised trade union Unite.
One in five workers across the UK earn less than the Living Wage. The Living Wage Week campaign is working to highlight how paying the Living Wage has the potential to change lives, boost business and support growth. It can improve staff retention, attendance and productivity.
Dominic Johnson, Employee Relations Director, Barclays, said:
“We’re a proud and long-standing supporter of the Living Wage. This isn’t just something we do because it makes commercial sense, delivering a better quality and more reliable service from colleagues who feel committed and valued. We do this because we want to act responsibly as a business, and demonstrate how our Purpose and Values permeate our day-to-day decisions and make a positive contribution to society.”
Barclays joined Boris Johnson and other Living Wage employers this morning to announce the new London Living Wage rate.
For the past year, the Living Wage has been £8.55 an hour in London and £7.45 in the rest of the UK. Barclays pays above the London Living Wage with a rate of £8.89 an hour. Being paid a Living Wage provides people with the means to support themselves and their family. As a progressive response to tackling in-work poverty, the wider benefits for society are clear. For example, parents on a Living Wage have more time to spend with their children and more money to invest in their future.
Rhys Moore, Director, Living Wage Foundation, said:
“Barclays has been at the forefront of the Living Wage since the earliest days of the campaign. We are delighted that Barclays continue to take a lead on the Living Wage and have been accredited across the company’s UK operations. This will make a huge difference to the workers who receive the Living Wage. We know that Barclays’ example will act a spur to other employers to follow suit.”