Win-win-win-win-win: multiple benefits of a living wage

• it is a fixed belief on the left and right of politics that the lower the wages the higher the profits. This bias hampers development of ‘living wage’ approaches. Fortunately, many enlightened companies see through this cynical nonsense and become excellent employers.

• It’s relatively easy, conceptually, to scrap this limiting belief: just understand that organizational economics is not a zero-sum game. You don’t have to take from others to promote your interests. The demonstrable economic impact of employee engagement can far outweigh any increase in pay – if the leadership and strategy are strong, as we’ll discuss further next week.

• When it is intelligently managed, a living wage policy is a ‘win-win-win-win-win’:– Win – for the worker and her or his family, who have better quality of life.– Win – for the line manager and the organization, as a well-motivated workforce produces

better services and happier customers.– Win – for the shareholders, because better customer service generates superior returns.– Win – for society, because there’s less poverty, personal debt and family breakdown.– Win – for the taxpayer, because fewer people need social security benefits.

Neela Bettridge07771 726 971

neela@neelabettridge.com