We're committing an additional £500,000 to the Living Wage work. As the project enters a new phase, our direct of grants Klara Skrivankova reflects on our investment in this work over the last four years.
Last week our chief executive Manny and I joined our partners from Citizens UK to celebrate the conclusion of the London Living Wage City project.
Four years ago we made our largest ever grant, £4.8m, to support this work. At the time, the Living Wage movement was already established, with accreditations and support steadily raising. But with board's backing we made a leap of faith. We hoped that an investment at a scale would catalyse a substantia step change.
That decision paid off, despite the headwinds of the pandemic, cost of living crisis and ongoing political and economic turmoil. The outcomes set out in their final report speak for themselves.
Some of the headlines include:
- £413 million back into the pockets of workers from London-headquartered employers
- 2,561 newly accredited Living Wage Employers in London, doubling the total number of London Living Wage Employers in the past 4 years
- £330 million back into the pockets of Londoners
- £628 million total economic value to London’s economy
- 680,397 employees now working for a London Living Wage Employer
- 70,308 people who have seen their wage increase nationally, from London-headquartered employers
It is rare in our work to see impact at this scale, in such a short period of time. Our investment clearly played a major part in this, but the success belongs to the people and relationships that power the campaign. A broad and diverse coalition came together in ways that don't often happen: businesses, low paid workers, community organisers, NHS leaders, the GLA and funders all pulling the same direction.
We were among the early backers of an idea that, at the time, lacked widespread support and many saw as radical. Living Wage is now a recognised brand, backed by tens of thousands of employers, and a near mainstream movement.
We were also building on more than twenty years of steady groundwork. We were among the early backers of an idea that, at the time, lacked widespread support and many saw as radical. Living Wage is now a recognised brand, backed by tens of thousands of employers, and a near mainstream movement.
London may not yet be a Living Wage City, but it is significantly closer to closing the gap for low-paid workers. We've committed a further £500k over the next three years and are supporting Citizens UK to engage with additional funders. We'll continue not just as a funder, but a strong voice amongst our peers and as ambassadors for the Living Wage in how we operate every day. It's now embedded in our common practice - from expectations of our business partners, asset managers to seeking out Living Wage accredited venues and caterers.
Certainly something positive to carry with us into the year ahead.