For the first time in 30 years an independent panel has been appointed to
look at whether London weighting needs to be changed to keep pace with the
increasing cost of living and working in the capital.
The Greater London Authority’s assembly has commissioned the panel to
re-examine how much more London employers should pay their staff than workers
elsewhere in the country.
The pay board will consider the higher cost of housing, travel, higher
consumer costs and wear and tear.
The seven-member panel, which has been drawn from public, private, trade
union and academic spheres, will also look at how pay weighting can contribute
to improved staff recruitment and retention.
Nick Page, CIPD adviser on rewards, hopes that the committee will take into
account the high cost of living which is faced by London commuters who live
across the South East region.
"It should now be looked at as South East weighting and I hope the
panel will take this into account," he said.
The panel will consider the growth of reward packages and the implications
for people located at the geographical boundaries. It will also investigate the
links between London weighting and increasing house prices.
Committee chairman William Knight is keen to get feedback from London-based
employers and employees who live in the capital.