Easy to use calculator from Bizimply
As workforce management experts, we are offering hospitality operators a National Living Wage Calculator – an easy way to work out the cost of the increase to their business.
Operators can download a free, simple to use spreadsheet from the Bizimply website and populate it with each employee’s date of birth and current hourly wage. This will show whether a pay increase is due in April, and if so, how much. For existing Bizimply customers, all the information can be easily transferred from current employee files, meaning the whole process takes only minutes.
Increasing the National Living Wage will have a massive impact on hospitality businesses, but working out exactly what that will be can be complex and time-consuming, especially for multi-site operators. It’s vital information that every business should make use of this MW Calculator.
The new rates will see an hourly increase of 19p for the majority of workers in the top tier, with 23 and 24 year-olds benefitting from a 71p jump from April 2021. The increase was announced at the end of last year and was heralded by the government as “the biggest cash increase ever”
From Thursday, the new rates are:
- The National Living Wage for ages 25 and above – up 2.2% to £8.91
- The National Minimum Wage for 23 to 24-year-olds – up 8.7% to £8.91
- For 21 to 22-year-olds – up 2% to £8.36
- For 18-20 – up 1.7% to £6.56
- For 16-17 – up 1.5% to £2.62
- For apprentices – up 6.4% to £4.15
Download your free UK Minimum Wage Increase Calculator for Excel now!
To use the calculator:
- Open up a spreadsheet, create and fill out the following information: First Name, Last Name, Date of Birth, Pay Rate Hourly. Already a Bizimply customer? Extract this information easily with our Employee Export report in a .csv format. Simply delete all other columns except for the above (The corresponding columns can be found in A, B, F and M).
- The above information can be copied and pasted into our calculator below! While placeholder information has been provided, do not delete the column information which has remained untouched, as they will update automatically.
- Once pasted, all you have to do is to click and drag the green formula box down for all columns except those that were copied into the calculator to update their values, and extend the calculator’s formula to extra cells.
After following these steps, the calculator will tell you if an employee is due a pay rate increase based on their age.
If not, ‘No Action Required’ will display next to the employee’s name. If they are in fact due an increase, the calculator will display both the new pay rate and the percentage increase next to their name.
Note: If some information displays #VALUE!, change the date of birth data format to register as day, month and year, in that order.[/vc_column_text][vc_single_image media=”79054″ media_width_percent=”100″][vc_column_text]To reiterate as stated in our last article, the changes to UK wages are due to be: