Corero Celebrates Living Wage Commitment

The Scottish Living Wage Accreditation Initiative is pleased to announce that Corero Network Security, has today accredited as a Living Wage employer

Edinburgh, UK – August 24, 2017 – Their Living Wage commitment will see everyone working at Corero Network Security in the UK, regardless of whether they are direct employees or third-party contracted staff; receive a minimum hourly wage of £8.45. This rate is significantly higher than the statutory minimum for over 25s of £7.50 per hour introduced in April 2017.

The real Living Wage is an hourly rate set independently and updated annually. The Living Wage is calculated according to the real costs of living.

"Corero’s commitment to fair pay and business integrity are at the heart of our company values." said Andrew Lloyd, President and EVP Sales & Marketing, Corero Network Security  "The world-class solutions we provide to our customers are built upon the dedication of our talented employees. To attract, motivate and retain this talent, we believe that compensation must be fair and market-competitive; this extends to our UK subcontractors too. The Living Wage accreditation confirms our commitment to our employees, our subcontractors and their respective families."

Employers choose to pay the real Living Wage on a voluntary basis. The Living Wage enjoys cross-party political support.

Peter Kelly, Director of the Poverty Alliance

The real Living Wage is one of the key tools at our disposal to help make an impact on levels of in-work poverty in Scotland. There is a strong business case for paying the Living Wage; but crucially allows those in work to become more included in society, better provide for their families, and feel that their value and hard work is recognised by their employer. We are delighted to congratulate Corero Network Security on becoming a Living Wage employer, joining the growing movement of over 800 companies in Scotland who want to go further than the government minimum and recognise that Living Wage accreditation is the mark of a responsible employer. I hope more organisations follow their lead by becoming accredited”.

 

NOTES TO EDITORS

  • The UK Living Wage for outside of London is currently £8.45 per hour. These figures are calculated annually by the Resolution Foundation and overseen by the Living Wage Commission, based on the best available evidence on living standards in London and the UK.

  • The accreditation programme in Scotland launched in April 2014. It is an initiative from The Poverty Alliance, in partnership with the Living Wage Foundation, and is funded by the Scottish Government

  • Over 25,000 people in Scotland have had a pay rise thanks to the real Living Wage Initiative. For an example of one of them click here: https://youtu.be/MaagH0UPXNo

  • More than 820 employers headquartered in Scotland have become accredited. Accreditation is voluntary. In the UK as a whole, there are 3000 accredited employers.

  • Accredited real Living Wage employers in Scotland span private, public and third sectors. Prominent accredited employers include SSE, Standard Life, Barr’s, and Mackie’s. SMEs make up 75% of the total number of employers and one in three local councils accredited. Find out more at www.scottishlivingwage.org/accredited

  • 467,000 figure of people earning under the real Living Wage is cited in SPICe, November 2016

 

What about the Government’s national living wage?

In July 2015 the Chancellor of the Exchequer announced that the UK Government would introduce a compulsory ‘national living wage’. This new government rate is a new minimum wage rate for staff over 25 years old. It was introduced in April 2016 and the rate is £7.50 per hour as of April 2017. The rate is separate to the Living Wage rate calculated by the Living Wage Foundation. The government rate is based on median earnings while the Living Wage Foundation rate is calculated according to the cost of living.

 

The National Minimum Wage
(including the ‘national living wage’)

The Living Wage

The legal minimum an employee can earn in an hour. Employers break the law if they fail to pay this rate

 A voluntary rate that employers commit to pay in order to go above and beyond. The Living Wage Employer Mark is a sign of best practice

The ‘national living wage’ rate is set at £7.50 an hour

The current UK Living Wage is £8.45 an hour.
The current London Living Wage is £9.75 an hour

This will increase each year, with the aim of reaching 60% of the median wage across the country by 2020 (this would mean around £9 an hour but the Low Pay Commission will consider what the market can bear)

This will increase in line with the cost of living with increases announced in Living Wage Week every year

Different rates apply depending on the age of the employee. The ‘national living wage’ is for over 25s only

The Living Wage is the same for all employees over the age of 18

Set by the Low Pay Commission

Set by the Living Wage Foundation

Based on an estimation of what the market can bear

Based on the cost of living

The rates are the same right across the UK

There is a separate rate for London to reflect the higher cost of living in the Capital