The retail sector is hooked on low pay. It has more workers earning less than the real Living Wage than any other sector in the UK1.
At a time when the cost of essential goods and services have skyrocketed, this is not good enough. In the UK, even those in working households are living in poverty – with millions left without enough money for food.
The ‘real Living Wage’ is calculated by the Living Wage Foundation and is based on the *actual* cost of living, unlike the government’s National Minimum Wage and National Living Wage. Companies can 'accredit' as a Living Wage Employer, which guarantees they'll continue paying the real Living Wage, even as it rises with the cost of living, year-on-year.
Paying a fair wage not only allows society to thrive, but the economy too. Workers who are not paid enough encounter poor physical and mental health – conditions of which cost the UK economy over £100 billion in 20232. Last year also saw the highest number of working days lost to strike action since the 80s3.
ShareAction, and the investors we work with, want to see the UK’s biggest retailers pay all of their workers a real Living Wage. In the next few months, we'll be clamping down on some of the biggest UK retail companies on their approach to paying their workers, but we need your help. Join the campaign to keep up with what we get up to and help ShareAction take action.
1Living Wage Foundation 2023
2AXA UK
3Office for National Statistics