Question

What is the financial impact of the National Living Wage likely to be in 2019 financial...

What is the financial impact of the National Living Wage likely to be in 2019 financial year if all staff were up-rated to comply with the National Living Wage requirements? Data about hours worked by staff members on aggregate is not information that the HR department has kept systematically. However, you have given the task of calculating this to one of your junior HR team and they have established that the average hours done each week is approximately 18 hours per staff member.

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Answer #1

If all employees are up-rated to comply with the National living wage Requirements, the minimum wage for those who are 25 and beyond will increase by 4.9%. So from 1st April 2019, it will increase from £7.83 to £8.21. per hour

So as given the junior HR team have calculated that average work done by each staff member in a week is 18 hours

So wages will increase by 18*7.83=140.94 £ per week to 18*8.21=147.78£.

So company has to bear extra cost as per new National Living wage requirements.

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