Overview and key points
Natalie McClean, our Chief People Officer on the importance of providing a living wage and what becoming Living Wage accredited means to Partners&
Why did we pursue Living Wage accreditation?
Our people are the heart of our business. We sought accreditation from the Living Wage Foundation to ensure that every employee, regardless of their role, is fairly compensated. By committing to pay a real Living Wage, we are not just meeting statutory requirements but going beyond to provide a level of financial security that reflects the true cost of living.
Why is it important to us?
The Living Wage accreditation reinforces our commitment to creating a workplace that values and supports our employees. It’s about doing the right thing and demonstrating our care for the well-being of our team.
In addition, we understand that fair pay is crucial in fostering engagement, boosting morale, and enhancing overall performance. It also aligns with our broader mission of building a sustainable, ethical business that people are proud to be a part of.
Does this differentiate us from others in our market?
Yes, it does. The insurance broking sector is highly competitive, and while many companies claim to value their employees, not all take tangible steps to ensure their well-being through initiatives like paying the real Living Wage. By obtaining this accreditation, we are setting ourselves apart as an employer who puts its values into action.
The Living Wage accreditation signals to our current and potential employees, clients, and partners that we are a responsible and forward-thinking employer, that we take the welfare of our people seriously. It underscores our commitment to social responsibility and positions us as a leader in promoting fair pay within the sector. This differentiation can attract top talent, enhance our reputation, and strengthen relationships with clients who share our commitment to ethical practices.
Do we have any stats around how many other employers in general have this accreditation?
As of October 2024, over 15,000 UK employers across various sectors are accredited by the Living Wage Foundation. This includes major household names, but within the insurance broking sector, the numbers remain limited. This highlights the importance of our role in challenging the status quo and leading by example.
How does this fit in with our brand values?
Partners& is built on a foundation of partnership. Our brand values centre around putting people first, fostering long-term relationships, and demonstrating integrity in everything we do. Achieving Living Wage accreditation aligns perfectly with our PACE values, reinforcing our commitment to creating a positive and supportive workplace. It sends a clear message: we care about our people, and we are committed to ensuring their success both professionally and personally.
Being Living Wage accredited is part of our focus on sustainability and community impact. By ensuring our employees are fairly paid, we contribute to the broader goal of reducing in-work poverty and promoting social mobility and economic well-being in the communities where we operate.