By Ian Hunter, member of ShareAction’s AGM Army
On the 1st May I attended the AGM of ARM Holdings, a software company based in Cambridge, for the second year running to ask them about their plans to pay the Living Wage. At their AGM last year, the Director of HR assured me that the company is not only paying the Living Wage to all their UK-based employees, including subcontractors, but they also vowed to proactively encourage their suppliers to apply these rates too. That was great news, but I hoped that they could go one step further.
This year, I returned to ask the question:
I wanted first to thank ARM for your positive response to my question at last year’s AGM, when you committed to paying the Living Wage to all UK staff, both those directly employed and those employed by contractors on your sites in the UK.
Today, I am back to encourage ARM to become an accredited Living Wage employer. Accreditation gives shareholders a simple assurance that ARM Holdings is compliant with nationally recognised Living Wage standards, and will remain so in the years to come. Accreditation is run by the Living Wage Foundation and a growing number of FTSE 100 companies have recently applied for accreditation including Pearson, Barclays, SSE and Legal & General.
So, my question is will the board commit today to moving towards accreditation as a Living Wage employer in the coming year?
The Chief Executive responded stating that they would agree to looking into accreditation and asked for more details in writing. That was great to hear and we will certainly be following up!
Thanks Ian! Fancy joining the AGM Army? Learn the ropes of shareholder activism and take your questions straight to company directors at Britain’s top companies: email Jo Beardsmore to find out about upcoming free training sessions.