HR Glossary

What is Living Wage?

A voluntary hourly pay rate calculated to cover the actual cost of living in a specific location, including housing, food, childcare, and transportation, typically set higher than the legal minimum wage.

Why it matters in hiring

Living Wage comes up whenever teams compare candidates, set policy or report on people data. Getting the definition right keeps decisions consistent, which is the same reason springhire scores every applicant against the same criteria rather than on impression.

Related terms starting with L

• Leadership Development Program
• Learning Management System (LMS)
• Learning Pathway
• Life Insurance
• Lohnsteuer - Wage Tax (Germany)
• LWF - Labour Welfare Fund
• Learning and Development (L&D)
• Learning Experience Platform (LXP)

Part of the springhire HR glossary, 1,150+ HR, payroll and recruiting terms defined. Free, no signup.