Hello there,
Thank you for joining Wednesday's webinar, Decent Work and the Labour Crunch: Attracting and Retaining Great Employees. In this webinar, we heard from business owner Devinder Chaudhary who spoke about how Living Wage and decent work policies have supported his business to attract and retain great employees.
Access The Recording
You can now access the meeting recording (password: 0g=B6y+$)
Discussion Highlights
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Businesses can view labour costs as an investment rather than a cost: staff retention and satisfaction support productivity and increase consumer experience and loyalty.
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When businesses measure the actual cost to pay a living wage compared to minimum wage, the increase may not be significant. The percentage of unskilled, minimally paid employees is generally less than 5% in an organization.
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Companies are increasingly recognizing their ability to influence supplier behaviour and shift procurement spending towards living wage suppliers.
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Living wages create benefits and opportunities for companies in the wider operating environment: consumers are increasingly seeking out ethical companies, and investors are recognizing the value of “Social” in Environmental, Social, and Corporate Governance.
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Wage increases often stimulate local economies, leading to positive multiplier effects.
Resources
Upcoming Learning Opportunity
Please contact povertyinstitute@ambrose.edu if you are interested in learning more about the New Economy Roundtable, or in joining us as we work together to increase decent work and create a more inclusive economy.
Thank you to everyone who joined us.
Sincerely,
Alison Homer (she/her)
Team Lead and Manager of Cities – Communities Ending Poverty
Vibrant Communities, Tamarack Institute
778.839.4765
alison@tamarackcommunity.ca