17/12/2001
Executives prosper as pay rises decline
A new survey has suggested that pay rises are in decline as many companies feel the affects of the economic downturn.
Research from the Confederation of British Industry (CBI) has revealed that one in six service sector companies and one in ten manufacturing firms have frozen pay completely, with the situation expected to worsen, especially in the service sector which has so far not felt the full effect of the recession afflicting the manufacturing industry.
However, executive directors of FTSE 100 firms can expect to see their salaries rise year on year, according to a survey by financial watchdog Pension Investment Research Consultants (PIRC). The increase in directors’ basic pay has outstripped the UK average wage increase – 4.4 per cent – and when cash bonuses and share options are factored in, the figure can amount to twice their basic salary.
“This creates a major challenge for shareholders to act to curb excess,” commented Stuart Bell, Research Director of PIRC, who warned that the situation could create “a powerful multiplier effect which has the potential to create a boardroom pay explosion in coming years.” (CL)
Research from the Confederation of British Industry (CBI) has revealed that one in six service sector companies and one in ten manufacturing firms have frozen pay completely, with the situation expected to worsen, especially in the service sector which has so far not felt the full effect of the recession afflicting the manufacturing industry.
However, executive directors of FTSE 100 firms can expect to see their salaries rise year on year, according to a survey by financial watchdog Pension Investment Research Consultants (PIRC). The increase in directors’ basic pay has outstripped the UK average wage increase – 4.4 per cent – and when cash bonuses and share options are factored in, the figure can amount to twice their basic salary.
“This creates a major challenge for shareholders to act to curb excess,” commented Stuart Bell, Research Director of PIRC, who warned that the situation could create “a powerful multiplier effect which has the potential to create a boardroom pay explosion in coming years.” (CL)
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11 March 2002
Employers urged to address issue of equal pay
Employers have been urged to apply for a Castle Award, the new mark of excellence which will reward employers’ efforts in tackling equal pay issues.
Employers urged to address issue of equal pay
Employers have been urged to apply for a Castle Award, the new mark of excellence which will reward employers’ efforts in tackling equal pay issues.
04 March 2002
Top Consignia directors decline 10 per cent pay hike
Two senior directors of postal company Consignia have decided not to accept a 10 per cent pay rise following anger among postal unions.
Top Consignia directors decline 10 per cent pay hike
Two senior directors of postal company Consignia have decided not to accept a 10 per cent pay rise following anger among postal unions.
26 October 2004
Breaking 'jobs for the boys' culture key to pay equality, says DTI
Tackling occupational segregation – opening up male-dominated industries to women – is the key to closing the gender pay gap which currently stands at 19.5%, according to the trade department.
Breaking 'jobs for the boys' culture key to pay equality, says DTI
Tackling occupational segregation – opening up male-dominated industries to women – is the key to closing the gender pay gap which currently stands at 19.5%, according to the trade department.
09 January 2003
Majority of UK bodies do not carry out equal pay audits
Interim findings from the Chartered Institute of Personnel and Development's (CIPD) Annual Reward Survey of over 500 UK organisations suggest that less than one fifth of organisations have carried out an equal pay audit during the past five years.
Majority of UK bodies do not carry out equal pay audits
Interim findings from the Chartered Institute of Personnel and Development's (CIPD) Annual Reward Survey of over 500 UK organisations suggest that less than one fifth of organisations have carried out an equal pay audit during the past five years.
22 April 2002
Equal pay employers urged to seek 'Castle' standard
Denis Haughey, MLA and James Leslie, MLA, Ministers in the Office of the First Minister and Deputy First Minister, have welcomed a new UK-wide initiative, which will enable women job seekers to identify more easily employers offering them the best equal pay deal.
Equal pay employers urged to seek 'Castle' standard
Denis Haughey, MLA and James Leslie, MLA, Ministers in the Office of the First Minister and Deputy First Minister, have welcomed a new UK-wide initiative, which will enable women job seekers to identify more easily employers offering them the best equal pay deal.
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