Company Pay & Reporting
GREATER TRANSPARENCY PROPOSED IN COMPANY PAY AND REPORTING
21 September 2011 Investors will have greater clarity on how top businesses are run and how executive pay is matched to performance under proposals published by Business Secretary Vince Cable. Proposals published as part of a consultation paper will simplify the reporting requirements for companies, providing clear and relevant information to investors on performance and pay. It will increase transparency and accountability in the investment chain and enable shareholders to get a real picture of what is happening to inform their investment decisions and help our economy grow. Measures to improve reporting on remuneration include requiring companies to provide information on the link between the performance of companies and top executives earnings. For example, requiring disclosure where the remuneration committee has agreed to pay bonuses when performance targets have not been met. It also asks: · whether to require the total figure for each board director’s remuneration to be published, including basic salary, bonuses, share schemes and pensions and how this should be calculated; · whether the ratio between the CEO’s pay and median earnings in a company should be published; and · in line with proposals for large banks, whether to disclose the highest earners in a company below board level, for example those earning above a defined threshold of total pay, or a defined number of top earners who have significant influence over how a company is run or those who have the ability to take significant risk. Follow this link for further information 21 September 2011 Acas' new "quick start" guide on Voluntary Gender Equality Analysis and Reporting is aimed at private sector and voluntary organisations that would like to address gender equality issues but are unsure about how to proceed. Despite a legal framework requiring equal pay for equal work between men and women there is still a significant gender pay gap: women who work full time in the public sector are paid on average 10 per cent less than men and that figure rises to 19.8 per cent in the private sector. The guidance provides practical advice on tackling inequality between men and women in the workplace and gives information about the Government's voluntary initiative "Think, Act and Report". For more information visit www.acas.org.uk/vger GENDER PAY GAP GUIDANCE
Disguised Remuneration
CIPP Policy News Journal
09/10/2012, Page 209 of 234
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