Survey: How is the national living wage impacting on your business?
Posted on in Business News , Cycles News , Polls & Results
Increases to the National Living Wage has detrimental impacts on the UK's low-wage sectors, including retail, accommodation, food and administrative services.
The 2018 National Living Wage survey, representing more than 3,000 stores, found that the latest increase in the National Living Wage had dire impacts. 75% of retailers reduced the number of staff hours in their business, 60% increased the number of hours they had to work to cover staff shortages, 39% had to reduce the number of staff employed in their business and 77% believe that the rate should not rise any higher than the rate of inflation.
The current National Living Wage rate is £8.21 for employees aged 25 and over, with a target to reach 60% of median wage earnings (£8.67) by 2020.
The Association of Convenience Stores (ACS) is calling on retailers to respond to the National Living Wage Survey 2019.
The survey will not only help inform the ACS' submission to the Low Pay Commission's consultation on wage rates to apply in 2020/21 and the future path for the National Living Wage beyond 2020.
The results will also enable independent retail associations to highlight the impact the wage increases are having on the sector, such as delayed investment, reducing staff hours and changing pay structures directly from the evidence provided by retailers.
The survey can be completed via the link below. Responses must be submitted by the 3rd of May.
Thank you.