INSIDE YOUR POCKET – SA companies to be forced to reveal pay gap between bosses and workers
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GUEST - Tony Healy - Labour Consultant
Listed and state-owned companies will, in the future, have to disclose the pay gap between the highest and lowest-paid as well as the average and median pay of all employees, according to amendments to the Companies Act, which have been introduced into Parliament.
This is in addition to the disclosure of director pay, which is already a standing requirement of the act. On Tuesday, Minister of Trade, Industry and Competition Ebrahim Patel briefed the Portfolio Committee on Trade, Industry and Competition on proposed amendments to the act. The committee will hold public hearings on the proposed changes in October.
Listed and state-owned companies will, in the future, have to disclose the pay gap between the highest and lowest-paid as well as the average and median pay of all employees, according to amendments to the Companies Act, which have been introduced into Parliament.
This is in addition to the disclosure of director pay, which is already a standing requirement of the act. On Tuesday, Minister of Trade, Industry and Competition Ebrahim Patel briefed the Portfolio Committee on Trade, Industry and Competition on proposed amendments to the act. The committee will hold public hearings on the proposed changes in October.
