Oxford City Council has announced a new Oxford Living Wage of £12.49 an hour.
The Oxford Living Wage is set at 95% of the London Living Wage, which has been announced at £13.15.
Oxford is regularly named as one of the least affordable places to live in the country. The Oxford Living Wage, which is administered by Oxford City Council, aims to recognise this, and ensure people are paid fairly.
The City Council is now encouraging new and previously accredited employers to commit to the new rate, which will start in April 2024.
The Oxford Living Wage recognition scheme is simple and free and offers businesses the opportunity to benefit from being an accredited Oxford Living Wage employer.
The Oxford Living Wage
The Oxford Living Wage was launched in 2008. It is an hourly minimum pay that promotes liveable earnings for all workers in the city.
Over 120 businesses and organisations in the city have already signed up, and the live list can be viewed by visiting the City Council’s website.
Why pay the Oxford Living Wage?
Offering the Oxford Living Wage can help employers improve both recruitment and retention.
Research from the Living Wage Foundation presents a good case for incentivising employers to pay its Oxford-based equivalent. Living Wage employers report benefits in working relations and retention rates. For example:
- 86% of employers say it has improved the reputation of the business
- 75% say it has increased motivation and retention rates amongst employees
- 58% say it improved relations between managers and their staff
For more information about the Oxford Living Wage, please visit the City Council’s website.
As part of the Oxfordshire Inclusive Economy Partnership, the Council, in collaboration with other councils and organisations, is trying to make the region more equal and create opportunities and benefits for everyone.
The Oxford Living Wage is one of the ways that Oxford City Council is doing this.
“I am incredibly proud that over 120 businesses in Oxford are accredited Oxford Living Wage employers.
“Paying the Oxford Living Wage not only benefits the employees who are being paid a truly liveable wage, but it also helps employers attract new talent and keep staff. In addition, also it helps make our city a fairer one for everyone and means that local residents have more money to spend in the local economy.
“I’d encourage any business or organisation that is considering paying Oxford Living Wage to do so and to become accredited through the council’s scheme. This means that they will be recognised for helping Oxford become a fairer place for everyone.”
Councillor Susan Brown, Leader of Oxford City Council and Cabinet Member for Inclusive Economy and Partnerships