Innovative Physics Limited has been accredited as a Living Wage Employer – a voluntary benchmark for employers that wish to ensure their staff earn a wage they can live on, not just the government minimum.
The company’s Living Wage commitment will see everyone working at Innovative Physics receive a minimum hourly wage that is significantly higher than the government minimum for those over 23 years old.
A global reputation
The high-tech firm, based in Shanklin, has developed a global reputation for its research and development in evolving technologies like sensor technology, artificial intelligence, and pattern recognition, working principally in the nuclear, homeland security and medical sectors across Asia, Europe, Canada, and the USA.
12 per cent of all jobs pay less than the real Living Wage
However, it is based in the UK in a region (South East) where over 12 per cent of all jobs pay less than the real Living Wage – around 533,000 jobs. Despite this, the company has committed to pay the real Living Wage and deliver a fair day’s pay for a hard day’s work.
The real Living Wage is the only rate calculated according to the costs of living. Since 2011 the Living Wage movement has delivered a pay rise to almost 400,000 people and put over £2 billion extra into the pockets of low paid workers.
Anderson-Matthew: It’s the right thing to do for our employees
Victoria Anderson-Matthew, Director of Business Development and Administration at Innovative Physics said,
“Employees are the most valuable asset to any company, and we have chosen to become a Living Wage accredited employer because, not only is it the right thing to do for our employees, but it reflects the core values we hold as a business.
“Employees deserve to have good rates of pay, a comfortable working environment and career development prospects wherever possible, and we are committed to providing this.”
Chapman: They join thousands of small businesses
Katherine Chapman, Director, Living Wage Foundation said,
“We’re delighted that Innovative Physics has joined the movement of almost 11,000 responsible employers across the UK who voluntarily commit to go further than the government minimum 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 and they, like Innovative Physics, believe that a hard day’s work deserves a fair day’s pay.”
News shared by Claire on behalf of Innovative Physics. Ed
