"It's disappointing to see supermarkets like M&S, Sainsbury's and Tesco moving away from matching the real Living Wage pay rates after setting the pace in recent years. We know retailers are under real pressure. The latest Living Wage rise reflects higher living costs, but that's exactly why paying people a wage they can actually live on is so important."
"Investors have been making the case to these companies that better pay has proven business benefits, from better morale to lower turnover and higher productivity."
Investor activists are urging major UK supermarkets to reinstate wages that align with the real living wage, currently set at £13.45 per hour. Many supermarkets, including Marks & Spencer, Tesco, and Sainsbury's, have stepped back from this benchmark. Aldi and Lidl are the only major chains maintaining entry-level pay in line with the living wage. ShareAction emphasizes the importance of fair pay, citing its benefits for business morale and productivity, despite pressures from rising costs and National Insurance contributions.
Read at London Business News | Londonlovesbusiness.com
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