Executive Pay: Context is Critical
The socio-economic climate of Brexit has made boardroom pay - already a topic regularly simmered and stirred in the United Kingdom across a broad range of stakeholders – into rich ground for politicians.
The uncertainty around Brexit has resulted in heightened media scrutiny of contrasting comments about what might happen to regulation in order to keep Britain “competitive.”
The failure of many FTSE 100 businesses to capture and disclose key workforce data is providing an incomplete picture of key business indicators, according to research just out from the CIPD, the professional body for HR and people development. It has looked at how workforce reporting has changed over the last five years and explores how transparent organisations are being about risks and opportunities relating to the workforce.
In the current debate in the UK around how to achieve better corporate governance at a challenging time and amid changing business and workplace models in the face of technological transformation, there is a concept that is returning to the forefront - ‘social value.’ This week the UK government returned to the Social Value Act of 2013, extending its requirements in central government to ensure all major procurements explicitly evaluate social value where appropriate, rather than just ‘consider’ it. It comes after the Carillion collapse, which offers examples of the failure of governance on every level.
In 2018, International Women’s Day turns a spotlight on the need for better corporate governance as never before. It is about dealing with inequality, and the gender pay gap, about ending discrimination and focusing on the lack of opportunity for women across business, about recognising double standards when it comes to progression, about remembering the importance of reputation, and more.