Living Wages

Living wages allow workers and their families access to a decent standard of living, which is considered a basic human right. By paying employees a living wage, organizations not only break the cycle of working poverty, but also benefit from higher employee satisfaction, retention and productivity.

Living wages are essential to achieve the UN Sustainable Development Goals as they directly contribute to reducing poverty, gender equality, reduced inequalities and decent work & economic growth. Indirectly, they contribute to at least 8 other SDGs, being an important driver of other sustainable developments.

Peterson Projects and Solutions supports organisations in measuring the living wage gap, developing strategies to close the gap and support in the implementation of living wage policies and action plans. With our global network and knowledge of supply chains we are able to provide local support with global guidance

Living Wages

What is a living wage?

A living wage is the remuneration received for a standard workweek by a worker in a particular place sufficient to cover the basic costs of living for the worker and his or her family. Living wages include the basic elements of a decent standard of living; housing, education, healthcare, food, drinking water, transportation, mobile usage, clothes, mandatory contributions & taxes and a provision for unexpected events or emergencies.

Why pay a living wage?

If we are to achieve real sustainable impact, respecting human rights must be a priority for public and private sector parties. According to the latest statistics of the ILO, 6.4% of the employed world population lives in extreme poverty (below USD 1.90 per day). This means that employed people, even though they are working fulltime jobs are not able to escape poverty. Since access to a decent standard of living is a human right, living wages and living income are priority areas that require cross-sectoral commitments.

Living wages provide workers around the world a way out of poverty, which is not only beneficial to the individual and his or her family, but also to strengthen local economies, foster gender equality and enhance sustainable business activities. Companies and organisations that are committed to paying a living wage can expect increased benefits in employee motivation and retention, improved reputation and better market position.

Our support for living wages

We support companies and organisations in calculating the living wage gap, develop insightful digital tools such as dashboards for managers, co-develop living wage policies and support local offices with the implementation of living wages and establishing the right context for it.

For companies that work with smallholders in their supply chains, we can conduct living income studies through local data gathering. Our global network means we have people on the ground in over 80 countries that have a good understanding of the local context. These projects are tailored to the needs and challenges of your supply chain.

Peterson Technologies
Peterson consultancy works closely with colleagues from Peterson Technologies to enhance data utilization. Dynamic and customized dashboards facilitate data comprehension and allow to explore cause and effect relationships.

Ready to work on living wages or would you like to know more? Please reach out to our expert team

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