Technology PR:
London, UK September 8, 2008 -- Cititec IT Recruitment, the global supplier of financial IT staff, has signed up to the London Living Wage. Cititec is in good company; other employers who have joined the scheme include Barclays, KPMG, Credit Suisse, and Lehman Brothers.
First calculated in 2005, the London Living Wage is currently £7.45 per hour, making it 35% higher than the National Minimum Wage. It is designed to cover the higher cost of housing in London and support workers during times of rising inflation.
In a statement to the press the Mayor of London, Boris Johnson, said: "At the end of the day it is more employers… setting the example for others to follow that will deliver a fair rate of pay for all Londoners. This is not only morally right but also makes good business sense, contributing to better recruitment and retention of staff, higher productivity, and a more loyal workforce with high morale. I look forward to the day when we can say that no Londoner is being paid anything less than the London Living Wage."
Robert Grant, Operations Director at Cititec IT Recruitment, commented: "With the cost of living still on the increase the move shows our commitment to retaining staff in the capital. We have a great team in place at Cititec, and making staff happier and more productive just makes business sense."
