This April saw one of the most significant cost increases in businesses in recent memory. The introduction of the National Living Wage at £7.20 an hour for workers aged 25 and over has left many retailers searching for savings to offset this cost.
Our most recent research suggests that retailers are already feeling its impact. We survey more than 1,200 retailers every quarter and the latest results tell us that retailers are not intending to increase staff hours and we have seen a fall in the percentage who say they’re planning to invest in their business in the coming year.
I’ll be honest with you: influencing policymakers on this issue is extremely hard. The perception among the public and many decision-makers is that staff in all sectors should be paid more.
An important part of our strategy is to work with other organisations to give a clear message that the impact of the National Living Wage is being felt far and wide. Fundamentally, though, our job is to spell out the impact with cold hard facts, and that’s where you are crucial.
When we speak to the Low Pay Commission and government departments, we need to have credible information at our disposal.
Our National Living Wage survey takes just a few minutes to complete, with your responses playing a vital role in the evidence base that we present to the Commissioners who will make a recommendation on future rates.
You can take the survey on our website (www.acs.org.uk)and we encourage you to write to your MP and explain the impact that the National Living Wage is having on your business.