Around 4.5 million employees are set to benefit from the introduction of the new National Living Wage in April – and more will benefit as the rate approaches £9 over the course of the parliament.
But how will employers, particularly those in low-paying sectors, respond to the new higher wage floor? Will it spur a virtuous spiral of productivity increases, or downward pressure on hours, training and pay for other workers? What can employers do to ensure the successful implementation of the policy, and what should government do to support them?
At an event at its headquarters the Resolution Foundation, along with the Chartered Institute of Personnel and Development, presented the findings from their joint investigation into employer preparations for the National Living Wage. Nick Boles MP then delivered a keynote speech, before taking part in a panel discussion with employers and a wider Q&A.