Oxford City Council is hosting a business event to encourage employers to find out more about paying the Oxford Living Wage (OLW), as part of its Living Wage Week (11-17 Nov) activity.
The event takes place at 6pm on 12 November at Oxford Spires Four Pillars Hotel. Speakers include the Oxford Bus Company, RightOn Group and Aspire and includes an informal networking opportunity after the event. Lord Mayor of Oxford, Councillor Craig Simmons and Councillor Martyn Rush, Oxford Living Wage Champion, will also speak at the event.
About the Oxford Living Wage
Oxford has one of the highest rates of employment in the UK, at above 95%, but also one of the highest costs of living in the country. For employers this means it’s a competitive market where they need to stand out to attract talent, and invest in their workforce to get the best out of employees.
Oxford City Council launched the Oxford Living Wage to recognise employers who pay a liveable rate to their workforces. Employers who sign up to the scheme guarantee to pay their employees the OLW rate, currently £10.02/hr. The rate of pay is set annually and linked to the Living Wage Foundation’s Real Living Wage, and set at 95% of the London Living Wage. The Council regularly commissions reviews this formula to make sure it keeps pace with Oxford’s rising living costs.
The City Council event offers businesses an opportunity to hear from employers who are already paying the OLW and find out more about how it could work for their business. Register for the event on eventbrite
The Living Wage Foundation has found that paying the Living Wage has tangible business benefits:
- 80% of employers believe that the Living Wage has improved their staff’s quality of work
- better loyalty and customer service, and fewer complaints
- absenteeism down by a quarter
- better retention of staff and lower human resources costs
- 70% of employers think that the Living Wage has increased consumer awareness of their commitment to be an ethical employer
“Paying the Oxford Living Wage is a way to tackle inequality in Oxford, and helps our city become a more socially just and fair place - but it’s also good for business. We want to encourage more employers to pay the Oxford Living Wage. Our accreditation process is free and simple, and we want to celebrate businesses who do the right thing.
“Paying the Living Wage improves retention and productivity, but also puts more money in the pockets of local people to spend, boosting the local economy. I hope the employers of Oxford will join us at this event and find why the Oxford Living Wage makes good business sense.”
Councillor Martyn Rush, Oxford Living Wage Champion