How to Ensure a Living Wage for All Employees
Working poverty is a reality worldwide. According to the International Labour Organization, more than 630 million workers worldwide – almost one in five, representing 19 per cent of all those employed – did not earn enough to lift themselves and their families out of extreme or moderate poverty in 2019. The COVID-19 pandemic has further highlighted the vulnerability of low-paid workers and made clear the consequences of economic fragility on human capital development, making the provision of living wages all the more urgent. Ensuring a living wage for all is an essential aspect of decent work and an important way for companies to reduce their impact on working poverty.
Join this Academy session to learn from experts what actions should be taken for companies to reach the target of 100% of employees across the organization earning a living wage. This target is one of 10 benchmarks proposed to companies as part of SDG Ambition, a six-month accelerator that aims to challenge and support participating companies of the UN Global Compact in setting ambitious corporate targets and accelerating integration of the Sustainable Development Goals (SDGs) into core business management.
During this session, you will learn to:
- Understand the concept of a living wage as an essential aspect of decent work and its importance to reduce working poverty
- Highlight the incentives for companies to ensure a living wage for all employees
- Both as a business benefit and a contribution to the achievement of the 2030 Agenda -Utilize tools and resources recommended by experts to support the design of an effective wage strategy
- Leverage good practice examples and lessons learned from peer companies to create effective policies to implement a wage strategy