M&S Bank signs up to the Local Living Wage showing its support for the local community and economy
12 September 2017M&S Bank has signed up to Cheshire West and Chester Council’s Local Living Wage charter and pledged to make a stand against poverty in the borough.
By signing up, M&S Bank is promising to pay all employees a minimum of £8.45 per hour. This rate was set by the Council and covers the real cost of living for employees and their families in the area.
Located on Chester Business Park, M&S Bank was formed in 2012 on the foundations of M&S Money, to bring the M&S brand values to banking, and has approximately 2000 employees.
Sue Fox, Chief Executive of M&S Bank, said: “Our employees are at the heart of what makes M&S Bank so great, and we’re committed to supporting each of our colleagues with a rewarding, nurturing and inclusive working environment.”
“We have been committed to paying our employees at or above the Living Wage for some time and we’re delighted to support the council with its ambition to become a living wage borough.”
Leader of the Council, Councillor Samantha Dixon said “I am extremely pleased that M&S Bank has signed up to the Local Living Wage charter. Businesses, like M&S Bank who support the Local Living Wage in West Cheshire are helping to create an economy with less in-work poverty.
“There has been a significant rise in the number of working households in poverty over the past decade in the UK - many adults are working multiple jobs and still in poverty due to rises in housing, food and fuel prices increasing the cost of living. Signing up to the Local Living Wage charter supports residents within the community, creating fair employment, promoting a healthy standard of living and enabling everyone to thrive from a prosperous economy.”
Creating a Local Living Wage for west Cheshire was a key priority for the new Cabinet when it came into power in 2015 and a Local Living Wage rate was paid to all directly employed Council staff from April 2016.
Businesses signing up to the Local Living Wage report lower absenteeism, lower staff turnover and higher productivity. Employers that sign up to the charter can also receive business support from the Council’s Business Growth team in relation to staff training and apprenticeship opportunities, as well as the introduction to key networking events.
The Local Living Wage rate is different from the National Living Wage of £7.50 per hour for people aged over 25, a mandatory rate set by government and formerly known as the minimum wage. The Local Living Wage in Cheshire West and Chester is voluntary and set at £8.45 per hour for employees aged 18 and over.
To sign up to the Local Living Wage and show your support in the borough, please visit www.cheshirewestandchester.gov.uk/LLW and complete the online form.
Cllr Dixon and Sue Fox