National Living Wage and National Minimum Wage from 1 April 2023
by SuzieBusiness Owner & Senior HRBP
The Government has announced the rates of the National Living Wage and National Minimum Wage from 1 April 2023.
The NLW, which applies to workers aged 23 and over, will rise from £9.50 to £10.42 per hour.
National Living Wage
Increase rate April 2023
Current rate to March 2023
21-22 Year Old Rate
18-20 Year Old Rate
16-17 Year Old Rate
Employers will need to carefully plan for the impacts of increased staffing costs.
Once again, the 21–22 year-old rate has been increased by a bigger percentage than other rates. This appears to be in preparation for the National Living Wage (NLW) to apply to all workers over 21, targeted to be implemented in April 2024.
As a business, it’s important to look at differentials for the roles above those on National Living Wage and National Minimum Wage as these may also need reviewing.
The Breathing Space HR team have invested in the Cendex Salary Benchmarking platform, which enables us to benchmark roles and reward packages with the most up to date, high quality data, tools and expert insight, pinpointing regional variations, detailed job spec etc.
If you need guidance to help you recruit, retain and motivate talentwith absolute confidence, give us a call and we can provide the salary benchmarking data and HR strategy to help your business. Call0113 426 7735or email your Breathing Space HR Business Partner.