Temporary staff can earn Living Wage through ESCG business relationships
The living wage rate was recently increased - to £8.80 per hour in London and £7.65 across the rest of the country - with the intention of giving workers a chance to provide their families with 'the essentials of life'.
While the minimum wage is mandatory at £6.31 per hour, the higher living wage remains a voluntary scheme that represents an on-going challenge to business.
According to the Confederation of British Industry (CBI), less than 500 of the UK’s five million businesses have signed up, with many smaller companies struggling to meet the additional cost.
However, Eccleston Square Consulting Group (ESCG) say that if employment agencies and businesses in the contractor and temporary worker industry analyse their business model with them they can save time and money, allowing them to better meet the new living wage for temporary workers and concentrate on their core operational activities.
ESCG’s portfolio boasts some of the biggest names in financial planning solutions, each with their own particular specialities.
The company say that all of the ESCG solutions, which relieve financial and administrative burdens when dealing with temporary staff, are tailored to meet ever-changing needs and specific business specifications.
ESCG primarily aims to provide greater support and solutions for its existing and new clients, while increasing profile and opportunities.
It claims part of its portfolio, Intelligent Salary Services (ISS) can take on employment responsibilities, freeing up the business from time-consuming payroll-related tasks.
It also states that ISS also saves partner companies money due to the reduced costs of administering payroll - and because the Sark-based company is based offshore, employers’ national insurance is not due.
Both factors result in temporary staff taking home more of their hard-earned pay and re-investing their cash in a fragile UK economy.
ESCG state that businesses struggling with tight margins in low paid sectors maintain they would not be able to trade profitably if it were not for their partnership with ISS.
They believe another solution is MainPay - a compliant and professional solution - that also manages and supports temporary workers with all their contracting needs.
The company states that on its website users will also find that myPSC is an online accounting software specialist for & lsquo;career’ contractors that encourages them to leave time-consuming administrative tasks to its experienced team of consultants.
ESCG Director Jason Medcalf said, “Many employment agencies would be more than happy to pay their staff the living wage. But we’re in the midst of a deep and prolonged economic slump and trading still remains tough.
“As far as many agencies are concerned, an extra cost such as the living wage is simply not an option. Employment agencies could make significant savings of time and money by consulting with ESCG and structuring contracts and employment appropriately.
“Temporary workers can receive higher gross rates, allowing them to take home more of their precious pay.
“For many firms that are operating in a tight margin environment, profitability would be made more difficult without partnering with ESCG's business solutions.”
The living wage is part of a campaign to improve the plight of low-paid workers. The campaign was launched in 2001 by a group of parents in East London who believed that working two minimum wage jobs left no time for family life. Supporters claim the living wage improves productivity, recruitment and retention, as well as quality of life for workers and their families. Detractors warn that raising the cost of employment will leave fewer people with jobs and make it harder for young, unskilled workers to find work and experience.