The rise in the National living wage is creeping up on us, is your childcare business prepared?
With the rise in the National Living Wage approaching soon it is advised that childcare business prepare themselves. The new wage will come into effect on the 1st April 2016. How will this effect affect your business’s is the question?
Many settings are in a predicament as to what to do as this National Living Wage will mean that employers will have to rise employees wages to create a fair salary scheme. Many employees qualified to level 3 are already on this amount or even lower, so what will happen when employers over 21 who are less qualified are paid the same rate of pay?
To help childcare business be prepared;
- Know the amount it is set to rise to – 7.20 for anyone aged 25 and over.
- Find out who on the team is eligible for this rise
- Inform payroll of the changes in time for the 1st April
- Talk to employees as soon as possible.
Business Minister Nick Boles said: “The Government’s new National Living Wage will provide a direct boost to over two-and-a-half million workers in the UK – rewarding and providing security for working people.
In order to sustain high productivity and high morale childcare owners will need to address their pay scale to ensure the whole team is satisfied, otherwise there will be some unhappy employees.
How is this rise going to financially affect childcare businesses is what many people are thinking? We would love to hear your stories on this matter
Employers can find out more by visiting www.livingwage.gov.uk.