It takes the average CEO less than five days to earn the average full-time annual wage
The ALP is on a bit of a workplace-transparency tear. First they announced a policy for companies to reveal their gender pay ratios, and then in a speech on Tuesday, Andrew Leigh, the shadow assistant treasurer, announced a new policy for listed companies with more than 250 employees to reveal the ratio of the CEO’s pay to that of the median employee in the company. It is all part of a package of industrial relation policies aimed not just about improving inequality, but hopefully changing the remuneration culture of companies.
When we think of IR policy, we generally think in terms of legislation around pay and conditions. While the ALP has certainly been taking more interventionist positions with policies such as reversing cuts to penalty rates and ensuring labour hire workers are paid the same rate as others, they have also produced some more subtle methods to address inequality.
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