Announced today, top 20 law firm DWF, which employs 2500 people across 12 offices, has become an accredited Living Wage Employer.
The Living Wage is an hourly wage rate set independently and calculated annually according to the basic cost of living in the UK. Led by charity The Living Wage Foundation, The Living Wage campaign has been running for ten years and has helped elevate 45,000 people out of poverty. As at 1 February 2014 the Living Wage is £8.80 in London and £7.65 across the rest of the UK. Accredited firms must be able to demonstrate that their suppliers are aligned with the Living Wage so that regular on-site contractor staff also benefit.
An independent study found that organisations which adopted the Living Wage experienced improved retention rates, improved work quality and reduced HR costs. Firms reported a 25% reduction in absenteeism whilst 66% of employers identified a significant positive impact on recruitment and retention figures.
DWF's Head of Values and Corporate Responsibility, Ty Jones, says "We can all effect positive change by staying relevant and connected to the social and ethical issues that are prevalent in society today. Supporting the Living Wage is consistent with our values and continuing determination to be a responsible, transparent and ultimately more sustainable business."