Benefits for employees
- Living wage earners receive fair compensation, and feel good about it!
- Living wage earners are not condemned to living in poverty and instead have a decent standard of living. They are able to take part in more activities since they are not constantly struggling to make ends meet.
- Living wage earners have better health. It makes a difference when you can afford to buy healthier food and pay for health insurance that provides prescription drugs and dental care.
- Living wage earners can take advantage of opportunities for further education and skills training.
Benefits for employers
- Living wage employees have better morale, resulting in increased loyalty and higher productivity.
- Absenteeism is reduced.
- Employee retention is enhanced, resulting in lower costs for recruitment and training.
- Living wage employers are recognized favourably by people in the community. Their willingness to pay fair compensation will receive formal recognition and will be publicized.
A recent article by Sara Mojtehedzadeh in the Toronto Star, Business group discovers being good is good for business (April 4, 2017), is an interesting account of some of the benefits for employers of paying all their employees a living wage: https://www.thestar.com/news/gta/2017/04/04/business-group-discovers-being-good-is-good-for-business.html
Benefits for the community
- The community can take pride in having employers that pay a living wage to their employees.
- Living wage earners spend their money locally, benefitting the local economy.
- Living wage employees will not be struggling to make ends meet. They are more likely to participate in the life of the community.