Paying Living Wage is key to improving social mobility | KPMG | UK

Paying the Living Wage is key to improving social mobility

Paying Living Wage is key to improving social mobility

Andy Bagnall, director at KPMG UK, comments on a new report launched today by the Social Mobility Commission

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Andy Bagnall, director at KPMG UK, comments on a new report launched today by the Social Mobility Commission that reveals low pay is endemic in the UK and little progress has been made in the numbers of people managing to escape from poorly paid jobs. He said:

“It’s shocking that whilst unemployment figures are at the lowest since 1975, Britain has one of the highest proportions of low paid work in the developed world. The findings of this report reiterate the importance of paying the real Living Wage, which helps eradicate working poverty and in turn improve social mobility.

“With the cost of living higher than it’s ever been, the reality for many is that they are forced to live hand to mouth.

“As employers we can take active steps to address this, by paying the real Living Wage. This also delivers tangible business benefits. In our own firm it has improved staff morale and driven a rise in service standards, improved the retention of staff and increased our productivity.

“It may not be possible or practical for everyone, but all organisations need to do what they can to address the problem of low pay. Of course, change cannot happen instantly, but making an initial assessment is an important first step.”

ENDS

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KPMG LLP, a UK limited liability partnership, operates from 22 offices across the UK with approximately 13,500 partners and staff. The UK firm recorded a revenue of £2.07 billion in the year ended 30 September 2016. KPMG is a global network of professional firms providing Audit, Tax, and Advisory services. It operates in 152 countries and has 189,000 professionals working in member firms around the world. The independent member firms of the KPMG network are affiliated with KPMG International Cooperative ("KPMG International"), a Swiss entity. Each KPMG firm is a legally distinct and separate entity and describes itself as such.
 

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