Shepherds Friendly gains accreditation from the Living Wage Foundation for being a responsible employer, paying their staff the real Living Wage.
Shepherds Friendly is a modern mutual society based in Cheadle, owned and run for their members. Founded in 1826, they are one of the oldest financial mutual societies. They offer a range of adult and children’s savings products, insurance and protection plans, designed to help individuals look after their family financially and plan. Their values, principles and commitment to mutuality place the interests of the members at the heart of everything the Society does and is the ethos based on which the entire company operates.
Shepherds Friendly has been accredited as a Living Wage Employer. Our Living Wage commitment will see everyone working at the Society receive a minimum hourly wage of £9.00 in the UK. This rate is significantly higher than the government minimum wage for those over the age of 25, which currently stands at £8.21 per hour.
Shepherds Friendly, is a mutual society based in the North West, a region where nearly a quarter of all jobs (23%) are paying less than the real Living Wage, which accounts for around 634,000 jobs. Shepherds Friendly has committed to pay the real Living Wage and deliver a fair day’s pay for a fair day’s work. As a small business, the Society is also committed to giving opportunities to those starting their career by offering apprenticeships, with three apprentices currently undertaking formal training and development here.
The Society’s commitment to paying the Living Wage
The real Living Wage is the only rate calculated according to the cost of living. It provides a voluntary benchmark for employers that wish to ensure their staff earn a wage they can live on, not just the government minimum. Since 2011, the Living Wage movement has delivered a pay rise to over 160,000 people and put over £800 million extra into the pockets of low paid workers. Shepherds Friendly’s commitment to paying the living wage is part of their overall approach to creating a positive working environment for all staff. Currently, 22% staff also have flexible working patterns.
Chief Culture Officer at Shepherds Friendly, Nasrin Hossain, remarked:
“We are delighted that Shepherds Friendly Society has been recognised as an accredited Living Wage employer, for choosing to voluntarily pay the Living Wage. As a society with an ethos focusing on mutuality, we believe in taking care of our staff, which in turn increases motivation levels and results in a better experience for our members.”
Katherine Chapman, Director or the Living Wage Foundation said:
“We’re delighted that Shepherds Friendly has joined the movement of over 5,000 responsible employers across the UK who voluntarily commit to go further than the government minimum to make sure all their staff earn enough to live on.
“They join thousands of small businesses, as well as household names such as IKEA, Heathrow Airport, Barclays, Chelsea and Everton Football Clubs and many more. These businesses recognise that paying the real Living Wage is the mark of a responsible employer and they, like Shepherds Friendly, believe that a hard day’s work deserves a fair day’s pay.”