Changes are coming…

…And as businesses we should be ready for them.

As of April 1 2017, the national minimum wage is going up by 4% from £7.20 per hour to £7.50  per hour for those aged 25 and older.

The increase was announced by Chancellor Philip Hammond, who took over from now editor of the London Evening Standard George Osborne (that’s a story for another day), along with other increases in wages all coming into action on April 1 including:

 

  • Apprentice minimum wage rising by £0.10 to £3.50
  • U18 minimum wage rising by £0.05 to £4.05
  • 18-20 year-old minimum wage rising by £0.05 to £5.60
  • 21-24 year-old minimum wage rising by £0.10 to £7.05

 

Despite the timing of the changes seemingly being a nudge and a wink from the Government to some low paid workers, the wage rises are no joke and businesses must ensure that they begin to pay the amended rates to staff.

It’s such a small change when you look at it on paper, however the move could have wider effects on companies – especially small to medium size businesses that may already be pushed where wages are concerned. It is after all the law that workers be payed the minimum wage, and you may be charged a fine if you are found to be paying less. If you need any help with this, you know where to find us at Howe Consultancy.

As for staff, it may feel like Christmas coming early getting any sort of pay rise at a time when it seems the only thing being made are cuts. But make sure on your pay slip that from April 2017 you are being paid the correct amount.

At Howe Consultancy we are here to ensure the relationship between staff and company is a harmonious one so if you’re concerned about pay increases and the implementation of them, we’re here to help! We aren’t as scary as TV would have you believe HR is and unlike some politicians, we’ll give you all the facts upfront.

Have a browse of our website for more on what we can do for you, or if you’d prefer to pick up the phone and speak to us, you can call us on 07921 256 981.