Standard Life has pledged that it will not employ people on controversial zero-hours contracts after being accredited as a “living wage” employer.
The life and pensions firm, which holds its annual meeting in Edinburgh today, employs more than 5,000 people across the UK. It said all workers, including interns, will receive at least £7.65 an hour, rising to £8.80 in London. That compares to the national minimum wage of £6.31 an hour.
Group operations director Sandy Begbie said: “This is an important part of our strategy to be a sustainable business and we are really pleased to have achieved full accreditation from the Living Wage Foundation.”
According to a recent study from the Office for National Statistics, about 1.4 million jobs involve zero-hours contracts, which do not guarantee work from one week to the next.