Santander UK has today announced that it has been accredited as a Living Wage business, formalising the bank’s previous commitment to pay all staff working in its branches, offices and banking centres the National Living Wage.
The accreditation sees Santander join a growing number of major UK employers in committing to pay all employees, both direct and indirect, a salary that reflects the real cost of living in the UK. The bank was also announced last week as one of the UK’s best employers, placed in ‘The Sunday Times 25 Best Big Companies to Work For’ 2015 awards.
Simon Lloyd, Chief People Officer & General Counsel, said: “As one of the UK’s biggest companies we are concerned not only about our own employees but also people working at Santander sites for our suppliers. Having moved all our direct employees to the National Living Wage in 2013 and subsequently the London Living Wage, we are delighted to extend this commitment to indirect employees. We look forward to working closely with The Living Wage Foundation to help further this initiative.”
Companies choose to pay the Living Wage on a voluntary basis and employees receive a minimum hourly wage of £7.85, which is set independently, and is significantly higher than the national minimum wage of £6.50.
Santander has agreed an implementation plan with the Foundation which will see all third-party contractors and suppliers paying their staff the Living Wage and London Living by 2017, ultimately benefitting some 1,600 people. This will be managed on an on-going basis as and when contracts come up for renewal and covers cleaning, security, reception, catering and mailroom suppliers. The first contract to move to Living Wage commenced on 1 March 2015 and covers cleaning staff for the bank’s retail and corporate banking sites.
Rhys Moore, Director at the Living Wage Foundation, said: “We are delighted that Santander has extended its commitment to the Living Wage movement as an accredited Living Wage employer for both direct and indirect employees. With over 900 branches and business centres in key cities and towns, Santander’s accreditation means that the Living Wage is now becoming a reality on high streets across the country.”
Santander joins over 1,200 other responsible organisations across the UK who recognise that paying the Living Wage makes good business sense as well as being the right thing to do.