Government poll reveals 93% of bosses support the new National Living Wage initiativeDecember 15, 2015 // No Comments
Britain’s bosses are urged to take four simple steps to be better prepared for the introduction of next year’s (2016) new National Living Wage (NLW).
Businesses are being advised to prepare early for the changes on 1 April 2016, when the new wage will become law and make sure they follow these four simple steps:
- know the correct rate of pay – £7.20 per hour for staff aged 25 and over
- find out which staff are eligible for the new rate
- update the company payroll in time for 1 April 2016
- communicate the changes to staff as soon as possible
Employers can find out more by visiting www.livingwage.gov.uk.
The advice coincides with a new poll which revealed 93% of bosses agree the new wage is a good idea, with 88% believing it will lead to higher productivity and 83% saying it will make staff more loyal to their firm. The poll also revealed that many firms were yet to take key steps to be prepared with only 45% having updated their payroll to take account of the changes.