The STEP Academy Trust Board of Directors have made the commitment to become a London Living Wage employer with effect from April 2015. This means that all directly employed members of staff will be paid the Living Wage as a minimum – currently £9.15 an hour in London. This is significantly higher than the current national minimum wage of £6.50 per hour. More information about the Living Wage can be found at http://www.livingwage.org.uk/.
The London Living Wage, which employers choose to pay on a voluntary basis, is set independently and updated annually and is calculated according to the basic cost of living in London. The London Living Wage is an hourly rate of pay calculated according to a combination of the costs of living in London and 60% of the average wage. This gives the wage rate needed to give a worker in London enough to provide their family with the essentials of life, including a cushion against unforeseen events.
One of the first Multi-Academy Trusts to be accredited as a London Living Wage Employer, The STEP Academy Trust is committed to addressing the effects of poverty and closing the gap between disadvantaged and non-disadvantaged pupils. This commitment also encompasses how we pay our staff, all of whom are vital to the success of our Academies. We have a moral obligation to investing in them and this includes the introduction of the London Living Wage to help ensure everyone is able to provide for themselves and their families.
The Directors are proud of this significant achievement for the Trust and believe that the move to the London Living Wage underlines our commitment to ensuring that all of its employees receive a fair rate of pay for their outstanding work.