Guy Stallard, director at KPMG UK, comments on new research by the Trust for London that highlights more than half of Londoners in poverty are in working families.
“This study highlights the importance of paying a Living Wage and eradicating working poverty. It’s tough to read that more than half of the 2.3 million Londoners living in poverty are members of households where someone is earning money.
“With the cost of living higher than it’s ever been, the reality for many is that they are forced to live hand to mouth.
“As employers we can take active steps to address this, by paying the voluntary Living Wage. This also delivers real and tangible business benefits. In our own firm it has improved staff morale and driven a rise in service standards, improved the retention of staff and increased our productivity.
“It may not be possible or practical for everyone, but all organisations need to do what they can to address the problem of low pay. Of course, change cannot happen instantly, but making an initial assessment is an important first step.”