Swindon-based building society Nationwide’s commitment to the Living Wage – which at £7.85 is more than £1 above the National Minimum Wage – has earned it the title of South West Living Wage champion.
Nationwide, which employs around 4,000 people in Swindon, became the first major high street brand to sign up as a principal partner of the Living Wage Foundation, the organisation campaigning to make the payment a legal minimum.
The building society is now working to introduce the Living Wage at its Swindon head office, its four other administrative bases and its 700 branches. Contractors, temporary workers and service providers such as cleaning and catering staff will be included and, once fully implemented, more than 1,600 people will gain a pay rise.
The awards are co-ordinated by the Living Wage Foundation to recognise employers that have made great contributions to communities and industries by implementing and celebrating the Living Wage, an hourly rate set independently and updated annually.
It is calculated according to the basic cost of living using the ‘minimum income standard’ for the UK. It is currently £1.30 higher than the UK minimum wage of £6.50.
The awards formed part of Living Wage Week 2014, a national celebration of responsible pay which ends tomorrow.
Living Wage Foundation director Rhys Moore said: “Congratulations to Nationwide on being named the Champion Awards winner for the South West region.
"With 1,000 employers now accredited, it is wonderful to have Nationwide leading the way in the South West. The leadership of responsible employers is making a real difference to families and communities across the UK.”
Nationwide head of citizenship Stephen Uden added: “As the world’s largest building society, we understand the money issues faced by those on lower incomes.
"Our support of the Living Wage shows our commitment to doing the right thing by our people and we are proud to take a leading role in the campaign for fairer pay.”
The awards were judged by an independent panel of community leaders from the Citizens UK Living Wage campaign. A total of 75 organisations were shortlisted for the awards.
A survey earlier this yaer by Close Brothers showed that just over half the owners of small and medium-sized businesses in the West of England were in favour of the Living Wage. However, 23% of those taking part in the survey opposed it with nearly a third of these firms saying it would mean cutting jobs.
The London Living Wage rate has been set at £9.15 to reflect the higher costs of living in the capital.