British chemicals company Croda has become the latest company to be accredited by the Living Wage Foundation for committing to pay an hourly wage of at least £8.75 to staff and contractors working outside of London.
More than the Government’s minimal wage pay guideline of £7.50 for over 25-year-olds, Croda’s participation in the scheme takes the amount of companies paying voluntary living wage in the UK to 4000 and makes the company the 35th FTSE 100 firm to be accredited.
Steve Foots, Croda Chief Executive, said, “We want to pay a fair and reasonable wage across all of our operations. It is part of being a socially responsible and ethical business. This is an important aspect of our investment in people, which includes training and development, share-saving schemes and pension benefits, to name a few.”
Tess Lanning, Director of the Living Wage Foundation, continued, “We’re delighted to welcome Croda as the 4,000th member of the movement of employers, organisations and individuals that campaign for a real living wage based on what people need to make ends meet.
“By taking a stand to ensure their employees earn a wage they can live on, Croda is helping to set the bar for others within the manufacturing industry.
“We now want to see others follow suit and commit to pay a fair day’s pay for a hard day’s work.”