Living Wage, Cost-of-Living Pressures & Emerging Retailer Expectations

What You Will Learn

By the end of this course, you will be able to:

• Understand the difference between minimum wage and living wage.
• Recognise the retailer, investor and ethical sourcing expectations driving change.
• Understand commonly used living wage methodologies and benchmarks.
• Assess how living wage considerations may apply to your business and workforce.
• Identify practical steps SMEs can take without over-committing.
• Communicate progress and limitations transparently with stakeholders.

Course Topics & Core Skills

• Living Wage and Minimum Wage: What the difference is.
• Drivers of Change: Global and local drivers, including retailers, investors and NGOs.
• Methodologies and Benchmarks: Common methodologies and benchmarks.
• Practical Steps: Practical steps SMEs can take without over-committing.
• Communication: How to communicate transparently with stakeholders.

Why This Training Matters in Industry

Clause 5 of the ETI Base Code covers living wages, and retailers, investors and NGOs are among the drivers behind growing expectations on this issue. A living wage is generally understood as the wage level necessary to afford a decent standard of living for workers and their families, which is a different question from the legal minimum.

Understanding that difference, and knowing which benchmarks and methodologies are commonly used, lets you decide how to respond at a pace that suits your business. Being able to explain your progress and limitations transparently is what builds credibility with stakeholders.