Corporate

The Scottish Government launched the Scottish Business Pledge last month, a new social and economic partnership for growth in Scotland.

Nicola Sturgeon was at Tynecastle stadium at the end of May to launch the Scottish Business Pledge, and secure Hearts Football Club as one of the first businesses to sign up to it.Other early signatories were GSK and Virgin Money.

The Scottish Government say this is part of an effort to grow a modern economy in Scotland, boost economic productivity and tackle inequality.

So what is the substance to this “Scottish Business Pledge”?

Well, it’s advertised as a ‘partnership’ between the Scottish Government and business in Scotland, involving a new voluntary code of business practice, boosting productivity, recognising fairness and increasing diversity in the process.

The code has 9 components – the living wage; zero hours contracts; workforce engagement; investing in young people; balanced workforce; innovation; internationalisation; community; and prompt payment – and companies which want to commit have to pay all employees over the age of 18 the living wage, they must deliver on at least 2 other components and commit to achieving the rest over time.

The Scottish Government says its aim is for the pledge to be a “badge of pride” for Scottish business, sending a clear signal to employees, customers and the wider community that companies have strong growth ambitions and can help create a fairer society.

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