National living wage outside of London reaches £7.85 per hour
The living wage, a value based on the price of living factors including rent and the cost of basic retail items that differs from the National Minimum Wage, has reached £7.85 per hour, up from £7.65, the Loughborough University Centre for Research in Social Policy has announced.
Research released today by KPMG reveals that, despite the increase in the number of companies paying the living wage, there has also been an increase in employees earning less than the set benchmark.
Further research released by the Living Wage Foundation suggests that the number of companies that are committed to paying their staff the living wage has increased from 912 in September to more than 1,000 today.
However, a separate report from KPMG estimates that 5.28 million workers earn less than £7.65 per hour, the rate set in November 2013, which is around 22% of the working population.
A Living Wage Commission report in June 2014 suggested that there were only 3.4 million staff earning less than the living wage in 2011, meaning the figure has increased by more than 50%.
Fast and comprehensive wage structure support
All frequently used methods of hours calculation, wage structure and shift patterns (including overtime and flexitime) are handled by the WinTA Net Time & Attendance and integrated security management system from Tensor.
Available in Lite, Small Business and Enterprise versions, the system is cost-effective for those employing from 10 to 10,000-plus staff.
The system allows you to create a series of shift premium rules that enable employees to earn bonus payments under special circumstances. The bonus is calculated either as extra hours or monetary amounts and can be included in the export to payroll.
If you’d like to find out more about the extensive range of time and attendance and personnel management solutions supplied by Tensor, just get in touch or Book a Demo, we’d be more than happy to answer any questions or queries you might have.