A CANCER healthcare company is the most recent Cambridge-based employer to have become Living Wage accredited, with support from Cambridge City Council.
Endomag signed up to the Real Living Wage during Living Wage Week, a national campaign week in November that promotes fair pay and aims to reach new networks of employers to encourage them to become Living Wage accredited.
During the week the new Living Wage rate was announced as £8.75 for the UK and £10.20 for London. The city council also held an annual event to celebrate fair pay at the Allia Future Business Centre and had a market stall to raise public awareness of the Living Wage.
Cllr Richard Johnson, the city council’s Executive Councillor for Communities, said: “We are delighted to welcome Endomag to the growing movement of now 56 employers in the city who are Living Wage accredited, and who believe a fair day’s work deserves a fair day’s pay.
“Cambridge has been identified as the most unequal city in the UK. We all have a duty to ensure that benefits of economic prosperity are shared by all and that no one has to make the choice between heating and eating this winter.
“As Christmas is a time of goodwill but also a time when people are especially likely to financially struggle, we really want to encourage other Cambridge employers to make a New Year’s resolution to become Living Wage accredited.”
Endomag is a pioneer in the use of magnetism for minimally-invasive surgical guidance. By addressing unmet needs in availability, affordability and workflow efficiency for surgical oncology, it supports its mission to improve the global standard of cancer care for everyone.
Endomag has had offices based in Cambridge since October 2011, and employs 15 people locally.
Eric Mayes, the company’s CEO said: “Cambridge is a vibrant and international city, which helps Endomag to compete globally. But we see a downside to its prosperity, as Cambridge is becoming increasingly unaffordable – particularly for younger workers. We believe the Living Wage is an important initiative to opening the city’s prosperity to more of its residents, helping to support the diversity at the heart of the city’s strength.”
The council has been encouraging and supporting employers to become Living Wage accredited since 2015. This is a key part of the council’s Anti-poverty Strategy to ensure people in Cambridge earn enough to live off.
As well as benefits for employees, there are also a number of business benefits to Living Wage accreditation. Some benefits include enhanced reputation as a fair employer, increased productivity, and improvements to staff retention that leads to reduced recruitment and training costs.