Survey: How is the National Living Wage impacting on your business?
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The National Living Wage has had a detrimental impact on the UK's low-wage sectors, a study by the Institute for Public Policy Research (IPPR) has found.
The UK's low-wage sectors, including retail, accommodation, food and administrative services, employ a third of all workers in the UK.
According to the report, businesses are trying to offset the cost of the National Living Wage by cutting overtime, bonuses and other staff perks. The ACS Employment Index found that almost one in four retailers have reduced staff hours over the past year, with just 8% reporting that they had increased hours.
The National Living Wage started at £7.20 in April 2016 for employees aged 25 and over, and is targeted to reach 60% of median wage earnings (£9.02) by 2020.
In response to the Low Pay Commission consultation on the National Minimum Wage and National Living Wage rates from April 2017, the Association of Convenience Stores (ACS) is currently collecting evidence through the National Living Wage Survey.
The survey will enable independent retail associations to highlight the impact that wage increases is having on the sector, such as delayed investment, reducing staff hours and changing pay structures. It is important to gather this evidence directly from retailers to show the negative impact wage increases are having on employment and growth in the sector.
The survey can be completed via the link below. Responses must be submitted by June 16th.
Thank you.