National Minimum Wage: understanding the April 2024 amendments

In November 2023, the Government announced a minimum wage increase aimed at helping to protect workers’ living standards amidst the current economic climate and cost of living crisis. These changes will apply from 1 April 2024, marking the largest increase to date.

*£22,308 per year

To prepare for the amendments: 

• Carry out a full review of salaries before 1 April 2024
• Where necessary, implement increases (and don’t forget to increase wages if a member of staff moves into another age bracket throughout the year)
• Communicate the changes to staff
• Strategically plan your budget to ensure the increases can be accommodated

Benefits of fair and competitive wages:

• Employee satisfaction and loyalty
• Talent attraction and retention
• Increased productivity
• Decreased absence
• Social equity
• Enhanced reputation as a fair employer

Remember, any employer not paying the minimum wage can be fined, so ensure you are compliant before 1 April 2024.