A Living Wage is the income necessary to provide workers and their families with the basic necessities of life. A Living Wage will enable workers to live with dignity and to participate as active citizens in society.
The first financial sector business to become a Living Wage Employer is AMP! Welcome to the family of nearly 120 Living Wage Employers!
AMP, a financial services company with a wide range of operations, has over 450 employees in New Zealand. Those workers will now all be receiving at least the Living Wage rate of $20.55 per hour, and the contracted cleaners, security, and other workers will also be included.
Managing Director of AMP Blair Vernon says that paying the Living Wage is a part of AMP’s focus on managing its business sustainably to create long-term shared value for its customers, people and communities.
“We believe all New Zealanders should be empowered to live with dignity and be able to realise the benefits of working hard, which is why we’re proud to be part of the Living Wage Aotearoa movement and to support the great work they do to focus attention on this critical issue. I encourage other businesses to do the same and together we can do more to improve outcomes for all New Zealanders,” Blair says.
Living Wage Movement Convenor Annie Newman agrees that AMP’s leadership should open the door for other financial institutions to commit to fair wages.
“AMP is leading the way in the finance industry and is vital to the ongoing success of the Living Wage Movement in the private sector,” Annie says.
“AMP has broken new ground because most Living Wage firms are NZ businesses but now we are seeing global companies taking notice of these important standards. They are showing the rest of their sector that not only is paying the Living Wage possible, it’s also the right thing to do.
“AMP joins other large employers like Tuaropaki Trust, Vector, and Wellington City Council, and over a hundred other employers, showing that the Living Wage is a great vehicle for fairness across all industries.
“It doesn’t matter if you’re a small hospitality business or a massive financial services organisation – you can demonstrate that doing business well means treating your employees well. Thank you to AMP for adding its considerable weight to our momentum.