At O’Brien Media, we believe that our employees are our greatest asset. Our commitment to social responsibility and fair treatment is reflected in our decision to become a Living Wage employer. The Living Wage is a voluntary commitment to pay our staff a wage that meets the real cost of living, and we are proud to uphold this standard. Here’s why this commitment matters to us and why it should matter to you, our valued clients.
Reflecting Our Values of Fairness and Respect
Our decision to pay the Living Wage stems from our core values of fairness and respect. We recognize that our employees deserve a wage that allows them to lead a decent and dignified life. The Living Wage Foundation determines this rate based on a robust methodology that takes into account the cost of essential goods and services, ensuring that wages are in line with the actual expenses faced by individuals and families.
Understanding the Living Wage Calculation
The Living Wage rates are influenced by five key factors, ensuring they reflect the real economic conditions that affect workers’ lives:
- Changes in the Prices of Goods and Services: The Living Wage is based on the Minimum Income Standard (MIS), which reflects the cost of a basket of goods and services deemed necessary for a decent standard of living in the UK. As the prices of items like food, rent, and energy bills fluctuate, so does the Living Wage.
- Changes to the Tax and Benefits System: Policy changes, such as adjustments to tax thresholds or benefits like Universal Credit, directly impact the amount of disposable income workers have. These changes are considered in setting the Living Wage to ensure it remains sufficient.
- Adjustments to the Basket of Goods and Services: Every four years, the MIS is reviewed to include new necessities, ensuring the Living Wage keeps pace with societal expectations of a decent living standard. This review can lead to changes in the rates.
- The Use of the ‘Shock Absorber’: To prevent volatility in the Living Wage rates due to sudden economic changes, a ‘shock absorber’ mechanism is used. This helps to stabilize the rates, ensuring that they do not fluctuate wildly from year to year.
- Changes in Methodology: The methodology for calculating the Living Wage is continually reviewed to reflect current data and living conditions. This includes updates to assumptions about housing, work hours, and policy impacts, ensuring the Living Wage remains relevant and fair.
Demonstrating Social Responsibility
By committing to the Living Wage, O’Brien Media demonstrates our dedication to social responsibility. We believe in contributing positively to the community and setting an example in the business world. This commitment helps us attract and retain talented employees who are motivated and valued, which in turn enhances the quality of service we provide to our clients.
The Impact on Our Clients
For our clients, knowing that O’Brien Media is a Living Wage employer offers several benefits:
- Ethical Partnership: Working with a socially responsible company reflects positively on your own brand and values.
- Enhanced Service Quality: Fairly compensated employees are more engaged and productive, leading to better service and innovative solutions for our clients.
- Community Support: By supporting a Living Wage employer, you are contributing to a fairer economy and helping to improve the standard of living for workers in your community.
In conclusion, our commitment to being a Living Wage employer is a testament to our values and our dedication to our team. At O’Brien Media, we are proud to play our part in creating a fairer, more equitable society, and we invite our clients to join us in supporting this vital cause. Together, we can make a significant difference.