INDEPENDENT NEWS

Banking Sector Embraces Living Wage

Published: Tue 28 Jul 2020 06:51 AM
The banks have become New Zealand’s first Living Wage sector in New Zealand.
Seventeen banks have adopted the Living Wage as the minimum rate across the business for those who are directly employed and those who are contracted to deliver services on a regular and ongoing basis.
A spokesperson for Living Wage Movement Aotearoa NZ, Marlon Drake, said this is a milestone for the Movement that began with just ten, small to medium sized businesses, coming on board in 2014.
Westpac was the first bank to sign the license to become an accredited Living Wage Employer and since then the Bankers Association has led the way to ensure the whole sector meets this minimum standard, Marlon said.
“The Living Wage is part of being a socially responsible business and the banks have shown it is possible to move as a whole sector to do what’s good for the workers, good for the economy and also good for business,” Marlon said.
“The Living Wage Movement is on a roll and with leadership like this the Living Wage is set to become mainstream in the private sector.”
“Extensive international research and a growing body of New Zealand research showed workers who are paid the Living Wage have better morale, less absenteeism and greater productivity. There is also a business advantage in being labelled a Living Wage employer. But, above all, it is simply the right thing to do,” he said.

Next in Business, Science, and Tech

Westpac NZ Sets Out Plan To Go Cheque-free
By: Westpac
Major New Zealand Upgrade Programme Projects Go To Tender
By: NZTA
Reserve Bank Seeks To Preserve Benefits Of Cash
By: Reserve Bank
Double-dip recession next year, but housing rolls on
By: RNZ
Microsoft Expands “Highway To A Hundred Unicorns” Initiative To Support Startups In Asia Pacific
By: Microsoft New Zealand
Fonterra Farmers Taking Another Step Towards New Zealand’s Low Emissions Food Production
By: Fonterra
Businessman Eric Watson sentenced to a four-month jail term
By: RNZ
OECD Area Employment Rate Falls By 4.0 Percentage Points, To 64.6% In Second Quarter Of 2020
By: OECD
Spark Turns On 5G In Auckland And Offers A Glimpse Into The Future Of Smart Cities
By: Spark
Monthly Migration Remains Low
By: Statistics New Zealand
Proglacial Lakes Are Accelerating Glacier Ice Loss
By: University of Canterbury
Fonterra Sells China Farms
By: Fonterra
Inland Revenue Reminder About The End Of Cheques
By: Inland Revenue Department
Final countdown for Kiwibank cheques
By: Kiwibank
New Zealand Moves To Protect Cash
By: Next Payments
View as: DESKTOP | MOBILE © Scoop Media