Ventrica reaffirms commitment to real living wage
SOUTHEND-ON-SEA, UNITED KINGDOM — Global customer experience specialist Ventrica has reaffirmed its commitment to the real living wage, underscoring the firm’s dedication to fair employee compensation.
This decision aligns with the latest adjustments in living wage rates within the United Kingdom, which have risen to £12 (US$15) per hour across the UK and £13.15 (US$16) in London.
A focus on employee well-being and retention
Ventrica CEO Iain Banks expressed pride in the company’s ongoing commitment to the real living wage, emphasizing its critical role in supporting the workforce.
“We, at Ventrica, are proud to be a Real Living Wage employer. This will have a real impact on our colleagues and both myself and our Board saw this as a priority for our business,” Banks stated.
He highlighted that continuous investment in employees is central to Ventrica’s values, reflecting their role as brand ambassadors and providers of exceptional customer experiences.
The company views its adherence to the real living wage as a cornerstone of its employee value proposition and a key factor in its strategy for growth and operational excellence.
“Retaining top talent and building our Employee Value Proposition remains at the heart of our growth and operational excellence strategies at Ventrica, and our ongoing commitment to the Real Living Wage is something I am tremendously proud of,” Banks added.
The broader impact of the Living Wage movement
UK’s Living Wage Foundation, which announces the rates during Living Wage Week, has calculated these figures based on the actual cost of living within the country.
The initiative aims to ensure that workers receive a wage sufficient for a decent standard of living rather than merely the minimum mandated by the government.
Since its inception in 2011, the Living Wage movement has significantly impacted the lives of workers, injecting over £2 billion (US$2.5 billion) into the pockets of more than 450,000 low-paid workers across the country.
Other BPOs following suit
Ventrica is not alone in its commitment to fair wages. Other business process outsourcing (BPO) companies have also recognized the importance of the real living wage.
Notable among them is ethical BPO firm Boldr which transitioned all its staff in the Philippines, South Africa, and Mexico to a family living wage baseline.
Other BPOs, such as TDCX and Cloudstaff, have also implemented living wage initiatives, signaling an industry-wide shift towards ethical labor practices.
