UK Government to bosses: Be prepared for National Living Wage
Britain’s bosses are urged to take 4 simple steps to be better prepared for the introduction of next year’s (2016) new National Living Wage (NLW), on the day that the statutory instrument is laid to write it into law.
Businesses are being advised to prepare early for the changes on 1 April 2016, when the new wage will become law, and make sure they follow these 4 simple steps:
know the correct rate of pay - £7.20 per hour for staff aged 25 and over
find out which staff are eligible for the new rate
update the company payroll in time for 1 April 2016
communicate the changes to staff as soon as possible
The advice coincides with a new poll which revealed 93% of bosses agree the new wage is a good idea, with 88% believing it will lead to higher productivity and 83% saying it will make staff more loyal to their firm. ■