Nestle To Pay All Contractors a Living Wage

Following on from last week’s impassioned RTA Business argument on the living wage, this week, Nestle have agreed to do so!

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When you decide it’s the right time to sell your business, and if you want to make sure you make as much money as humanly possible, you need to come to RTA Business. We have the expertise, the contacts and the knowledge, to make sure we can attract the best potential buyer to your business.

We’ve often found that a buyer who is looking to purchase your business to expand, factors the quality of your staff into their decision. That’s why we’ve previously argued that if you’re looking to eventually sell your business, you need to pay all your staff a living wage- it’s the most effective way to attract the best talent!

It Seems Nestle Have Been Reading Our Blog

And it seems as if one major company has been reading the RTA Business blog (ok, so they probably made their decision before we wrote the article, but a business sales broker can dream), as world’s largest food producer Nestle has announced that it will become the first major manufacturer to pay all its staff a living wage.

When it comes to this issue, Nestle is already ahead; they currently pay their 8,000 employees a living wage. However, the firm has now agreed to extend the policy to their 800 contractors. It will be fully implemented by the end of 2017.

Nestle Cares and Prospective Employees Will Like That

Fiona Kendrick, Nestle UK & Ireland chief executive, spoke out on the announcement. The BBC reported that Kendrick said: "As a major UK employer, we know that this is the right thing to do. Not only does it benefit our employees but also the communities they live and work in." 

Imagine how attractive Nestle will seem as an employment prospect in light of this. They clearly care about their employees and you’d be surprised how attractive a caring boss is as a potential boss. You can be sure that Nestle, in light of this announcement, will have its pick of the best contractors by the end of 2017. 

The moral of the story? There’s a reason a company as gigantic as Nestle have embraced the living wage, and that’s because it makes them more competitive than ever in the employment market. If you want to attract the best talent to make your business look more attractive than ever to an eventual potential buyer, take your cue from Nestle and implement the living wage.