PLAS-FIT UK REAL LIVING WAGE POLICY

Last updated: 07/08/2024

 

Objective:

To ensure that all employees are paid a fair wage that meets the real cost of living, thereby promoting their well-being and financial security.

 

Scope:

This policy applies to all employees of Plas-Fit UK, including full-time, part-time, temporary, and contract staff.

 

Policy Statement:
• Commitment to Fair Pay: Plas-Fit UK is committed to paying all employees at least the Real Living Wage, as defined by the Living Wage Foundation. This wage rate is higher than the government-mandated minimum wage and is calculated based on the actual cost of living.
• Annual Review: The Real Living Wage rates are reviewed and updated annually. Plas-Fit UK will adjust employee wages accordingly to reflect these changes.
• Transparency and Communication: Plas-Fit UK will communicate the Real Living Wage policy to all employees and ensure transparency in wage calculations and adjustments.

 

Responsibilities:

 

The Directors will:
– Ensure compliance with the Real Living Wage policy.
– Monitor and review wage rates annually to align with the latest Real Living Wage rates.
– Communicate any changes in wage rates to employees promptly.
– Provide the necessary budget and resources to support the implementation of this policy.
– Implement and oversee the Real Living Wage policy.
– Ensure that all new hires are paid at least the Real Living Wage.

 

Employees:
– Understand and support the Real Living Wage policy.
– Report any concerns regarding wage payments to the Managing Director.

 

Procedures:
1. Implementation:
– The Directors will ensure that all current employees are paid at least the Real Living Wage.
– New employees will be offered a wage that meets or exceeds the Real Living Wage from their start date.
2. Annual Adjustment:
– The Directors will monitor the Living Wage Foundation’s updates to the Real Living Wage rates.
– Wage adjustments will be implemented within three months of the new rates being announced.
3. Communication:
– All employees will be informed about the Real Living Wage policy and any updates to wage rates.
– Information about the Real Living Wage policy will be included in the employee handbook and during the on-boarding process.
4. Audit and Compliance:
– Regular audits will be conducted to ensure all employees are being paid in accordance with the Real Living Wage policy.
– Any discrepancies will be addressed promptly to ensure compliance.

 

Benefits of the Real Living Wage:
• Employee Well-Being: Ensures employees can afford basic living costs, leading to improved health and well-being.
• Employee Retention and Motivation: Fair pay contributes to higher job satisfaction, increased loyalty, and reduced turnover.
• Positive Reputation: Demonstrates Plas-Fit UK’s commitment to ethical business practices and social responsibility.

 

Review:

This policy will be reviewed as necessary to ensure its effectiveness and alignment with the Living Wage Foundation’s standards and guidelines.

 

This Policy is communicated to all employees and integrated it into our regular training programs.

 

Contact Information:

For any questions or concerns about this policy, please contact Plas-Fit UK on 01782 894 912.