The Watches of Switzerland Group has achieved accreditation from the Living Wage Foundation after committing to pay its employees a minimum hourly wage of £11.95 in London and £10.90 throughout the rest of the UK.
The rates surpass the government’s established national living wage for individuals aged 23 and above, which is currently set at £10.42 per hour.
Brian Duffy, chief executive officer at the Watches of Switzerland Group, said: “Our colleagues are at the heart of our business and are critical to our success. Our teams are passionate and dedicated about the clients they serve and the relationships they have supporting each other internally to give the best client experience.
“We wanted to implement the real living wage to recognise the value of our colleagues across the business and demonstrate our core value of always doing the right thing.”
The real living wage is calculated based on the actual cost of living, as determined by the Living Wage Foundation.
Katherine Chapman, director at the Living Wage Foundation, said the Watches of Switzerland Group’s move showed that the company believes “a hard day’s work deserves a fair day’s pay”.
Chapman added: “We’re delighted that the Watches of Switzerland Group has joined the movement of over 12,000 responsible employers across the UK who voluntarily commit to go further than the government to make sure all their staff earn enough to live on.
“They join thousands of small businesses, as well as household names such as Burberry, Barclays, Everton Football Club and many more. These businesses recognise that paying the real living wage is the mark of a responsible employer.”
Philippa Jackson, HR director at the Watches of Switzerland Group, expressed her pride at the company’s accreditation.
“These pay rates, combined with our comprehensive benefits package and our recent investment into our support centre at Carlton Park in Leicester will ensure people join, grow and stay with our group,” she said.
“It’s in our DNA as a business to support and care for those on the most junior salaries and this is a great example of our commitment to that purpose.”