Top executive pay now 117 times average worker’s wages
Posted on August 21, 2019 by webmaster
A report published by the CIPD and Britain’s High Pay Centre, examining executive pay across the FTSE 100, has revealed that the UK’s largest publicly listed companies paid their top leaders, known as ‘Key Management Personnel’, a total of at least £2.08 billion [€2.3bn] in 2018.
It also highlighted that the average (median) FTSE 100 chief executive earns 117 times more than the average worker in Britain. In other words, it takes the average worker one year to earn what a typical FTSE 100 CEO earns in just three working days.
The report also highlights concerns around corporate reporting on pay and performance for key management personnel, which it found to be inconsistent and lacking transparency.
The CIPD institute stated that: “Fairness is a key issue; if your organisation can’t afford to pay the Living Wage, can it justify a huge gap between its highest and lowest earners?”
The CIPD warned that executive pay is often disconnected from the reward strategy of the wider organisation – and therefore HR teams. But there are steps that people professionals can take to think about this issue in a more holistic context and address pay inequality.
Incoming pay ratio reporting requirements will push executive pay even further under the magnifying glass. HR teams will be under pressure to explain and justify any pay gaps, while taking steps to mitigate the negative impact this could have on culture and performance.
Moves to opt-out of ‘after-work’ e-mails during rest periods
Posted on August 21, 2019 by Gerald Flynn
The Government is to consider a new employment law to provide a right to switch-off e-mails when away from work or on holidays.
The move comes two years after France introduced similar rules to ensure workers have the right to switch off and no longer feel the obligation to check work-related emails outside office hours.
Minister for Business Heather Humphreys said that with the “increasing digitalisation of the workforce” it was important from a work-life balance perspective that there would be “clearly defined guidelines regarding workers’ rights to switch off after office hours”.
In 2017, the French government introduced an employment law which obliges organisations to guarantee their employees a right to disconnect from technology.
Last year business executive Gráinne O’Hara, from meat producer Kepak, was awarded €7,500 by the Labour Court over being required to deal with out-of-hours work emails, including some after midnight, which led to her working more than 48 hours a week. She was unable to have “a
a rest period of not less than 11 consecutive hours in each period of 24 hours during which he or she works for his or her employer”.
More apprenticeships needed to meet youth jobs needs
Posted on August 8, 2019 by webmaster
DESPITE the tight labour market, 6,000 under-25s remain long-term unemployed according to the National Youth Council which is calling for more apprentiship places, especially for younger women. Apprenticeship courses have been expanded in recent years to include careers in auctioneering, insurance and accounting in addition to more traditional trades.
At present, there are 16,000 young people on apprenticeship programmes. We need increased investment in Budget 2020 to support more young jobseekers into an apprenticeship and a range of other employment and training measures to reduce long-term youth unemployment. That was the message from James Doorley, National Youth Council of Ireland (NYCI) deputy director at the launch of its pre-Budget submission.
The NYCI, which represents youth organisations working with over 380,000 young people nationwide, is calling for an overall investment of €14.9million in education, training and apprenticeships to halve long-term youth unemployment by the end of 2020. Only 2% – about 350 – of the 16,000 young people in apprenticeship schemes are women.
Mr Doorley said: “Census 2016 indicates that our population aged 10-24 years will increase to over one million by 2025, so we need to invest in policies, services and supports to meet the needs of young people today, while preparing for demographic pressures in the coming years.”