With inflation at a record high and the cost-of-living crisis, extraordinary pressure is upon UK households. Which is why, at times like this, the Real Living Wage is all the more important for employees and their families.
The Real Living Wage rates are the only UK wage rate to be independently calculated on the cost of living, and here at Creed we’re happy to be one of the thousands of UK businesses who voluntarily pay their employees the Real Living Wage!
So, how does this benefit our talented employees?
Again, it’s pretty self-explanatory, and the hope is that it provides greater security, stability and a better lifestyle.
At Creed we believe that talented and inspired people make everything possible. We care about our employees’ well-being and understand that times such as these can have a negative effect on both our mental and physical health, which is why we’re doing everything we can to make our employees’ lives easier. Although we believe every business and organisation should pay their employees the Real Living Wage, we also understand that, it’s just not financially possible for everyone to do so. Employers are also struggling with their finances and the changes in the economy, from supply chain issues to the energy crisis and there’s a lot of unknowns on the horizon to try and predict. If your organisation can’t offer the benefits of the Real Living Wage, here are some tips as to how your broader employer brand can help.
How can your employer brand help?
Your employer brand is more important than ever. You need to work even harder to attract, convert and retain the talent you need. Although paying the Real Living Wage is arguably a sound proposition, don’t lose sight of telling the stories of what it’s like working for your business, it isn’t just a job, it’s way more special than that. Whilst the financial burden is upon us all, it’s important to explain and celebrate the multiple propositions and reasons to join your organisation. Money isn’t everything and candidates will be comparing your offering to that of your competitors, and if you’re all paying similar pay rates, it’ll be other reasons why they choose you.
Consider your broader reward and recognition offering, your L&D promises, the purpose of your organisation and ultimately how your employees can change customers’ lives and the world around them by working for you. How strong is your team ethos? Why is your tech or hybrid model better or different? You may well have some relevant, authentic and differentiating people propositions that for some people might offset the pay rate challenge.
What’s different at Creed?
If you’ve been keeping up to date with Creed news, you’ll know that we’re now a 100% employee-owned agency. Yes, that means everyone here at Creed are co-owners! Not only does this increase productivity, we can preserve our culture, are all more invested and we have a voice at the table. It’s one of our defining features, oh and paying the Real Living Wage.